W.R. Berkley (NYSE:WRB) Major Shareholder Sumitomo Insurance Co Mitsui Acquires 20,000 Shares of Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui acquired 20,000 shares of the stock in a transaction dated Thursday, February 12th. The stock was acquired at an average cost of $71.99 per share, with a total value of $1,439,800.00. Following the purchase, the insider owned 56,576,652 shares of the company’s stock, valued at approximately $4,072,953,177.48. This trade represents a 0.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

W.R. Berkley Price Performance

W.R. Berkley stock opened at $69.60 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29. W.R. Berkley Corporation has a 52-week low of $59.55 and a 52-week high of $78.96. The firm has a market cap of $26.45 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 2.99 and a beta of 0.37. The company’s 50 day moving average is $69.13 and its two-hundred day moving average is $72.11.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings data on Monday, January 26th. The insurance provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. W.R. Berkley had a return on equity of 18.35% and a net margin of 12.10%.The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 EPS. On average, research analysts expect that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 15th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, December 15th. W.R. Berkley’s dividend payout ratio (DPR) is presently 8.09%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WRB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of W.R. Berkley in a research note on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $75.00 target price (down previously from $76.00) on shares of W.R. Berkley in a research note on Monday, February 2nd. Jefferies Financial Group cut their price target on W.R. Berkley from $75.00 to $70.00 and set a “hold” rating on the stock in a research note on Tuesday, January 27th. Argus decreased their price target on W.R. Berkley from $82.00 to $76.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on W.R. Berkley from $73.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $69.67.

Hedge Funds Weigh In On W.R. Berkley

Hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new stake in shares of W.R. Berkley in the 3rd quarter valued at about $682,816,000. Norges Bank acquired a new stake in shares of W.R. Berkley in the fourth quarter valued at approximately $435,752,000. Balyasny Asset Management L.P. grew its position in shares of W.R. Berkley by 6,503.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,561,230 shares of the insurance provider’s stock worth $188,174,000 after acquiring an additional 2,601,230 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of W.R. Berkley by 35,572.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,219,902 shares of the insurance provider’s stock valued at $155,660,000 after acquiring an additional 2,213,679 shares during the period. Finally, Invesco Ltd. raised its position in W.R. Berkley by 33.4% in the 3rd quarter. Invesco Ltd. now owns 4,892,799 shares of the insurance provider’s stock valued at $374,886,000 after purchasing an additional 1,224,363 shares during the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.

About W.R. Berkley

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.