Insider Buying: W.R. Berkley (NYSE:WRB) Major Shareholder Purchases 275,000 Shares of Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 275,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were purchased at an average cost of $68.95 per share, for a total transaction of $18,961,250.00. Following the completion of the purchase, the insider directly owned 51,915,463 shares of the company’s stock, valued at approximately $3,579,571,173.85. This represents a 0.53% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

W.R. Berkley Trading Down 2.5%

Shares of W.R. Berkley stock traded down $1.79 during trading on Friday, hitting $68.45. The company’s stock had a trading volume of 2,476,822 shares, compared to its average volume of 2,459,150. The stock has a market cap of $26.01 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. W.R. Berkley Corporation has a 52 week low of $55.97 and a 52 week high of $78.96. The stock has a 50-day moving average price of $72.41 and a two-hundred day moving average price of $72.33. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings results on Monday, October 20th. The insurance provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.16 billion. W.R. Berkley had a return on equity of 18.86% and a net margin of 13.01%.The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 EPS. Equities research analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, December 15th. W.R. Berkley’s dividend payout ratio is presently 7.56%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WRB shares. The Goldman Sachs Group restated a “neutral” rating and set a $73.00 price target on shares of W.R. Berkley in a research report on Wednesday. UBS Group reaffirmed a “neutral” rating and issued a $87.00 price target on shares of W.R. Berkley in a report on Friday, November 7th. Morgan Stanley set a $75.00 target price on W.R. Berkley in a research report on Tuesday, December 16th. Wells Fargo & Company set a $66.00 price target on W.R. Berkley and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group decreased their price objective on W.R. Berkley from $76.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, W.R. Berkley currently has an average rating of “Hold” and a consensus target price of $72.87.

Hedge Funds Weigh In On W.R. Berkley

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WRB. Compass Financial Services Inc bought a new position in W.R. Berkley during the 3rd quarter worth approximately $26,000. Hilltop National Bank bought a new position in shares of W.R. Berkley in the second quarter worth approximately $27,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of W.R. Berkley in the second quarter worth $27,000. Elevation Point Wealth Partners LLC bought a new stake in W.R. Berkley during the 2nd quarter valued at $34,000. Finally, Triumph Capital Management purchased a new stake in W.R. Berkley during the 3rd quarter valued at $35,000. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.