Insider Buying: W.R. Berkley (NYSE:WRB) Major Shareholder Acquires $16,952,472.75 in Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui acquired 250,221 shares of W.R. Berkley stock in a transaction dated Monday, February 2nd. The shares were purchased at an average cost of $67.75 per share, with a total value of $16,952,472.75. Following the completion of the transaction, the insider directly owned 56,353,656 shares of the company’s stock, valued at $3,817,960,194. This trade represents a 0.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

W.R. Berkley Trading Down 1.1%

NYSE WRB opened at $70.48 on Friday. The stock has a market capitalization of $26.78 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 2.96 and a beta of 0.37. W.R. Berkley Corporation has a 52 week low of $59.55 and a 52 week high of $78.96. The stock’s 50 day moving average price is $69.19 and its two-hundred day moving average price is $72.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.37 and a current ratio of 0.37.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings data on Monday, January 26th. The insurance provider reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. W.R. Berkley had a net margin of 12.10% and a return on equity of 18.35%. W.R. Berkley’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.13 earnings per share. As a group, analysts anticipate that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. W.R. Berkley’s payout ratio is currently 8.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial set a $80.00 price objective on W.R. Berkley and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Jefferies Financial Group cut their price target on shares of W.R. Berkley from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday, January 27th. BMO Capital Markets cut shares of W.R. Berkley from a “market perform” rating to an “underperform” rating and set a $64.00 target price on the stock. in a report on Wednesday, October 22nd. Barclays reiterated an “underweight” rating and set a $64.00 price target (down previously from $73.00) on shares of W.R. Berkley in a report on Thursday, January 8th. Finally, Argus dropped their price objective on W.R. Berkley from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, W.R. Berkley presently has an average rating of “Hold” and a consensus target price of $69.67.

Institutional Trading of W.R. Berkley

Several hedge funds have recently added to or reduced their stakes in WRB. Johnson Financial Group Inc. increased its position in W.R. Berkley by 22.3% during the 3rd quarter. Johnson Financial Group Inc. now owns 756 shares of the insurance provider’s stock worth $58,000 after buying an additional 138 shares during the period. Maridea Wealth Management LLC increased its position in W.R. Berkley by 2.0% during the third quarter. Maridea Wealth Management LLC now owns 7,180 shares of the insurance provider’s stock worth $528,000 after acquiring an additional 141 shares during the period. Physician Wealth Advisors Inc. raised its stake in W.R. Berkley by 40.2% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 523 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 150 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of W.R. Berkley by 3.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 4,788 shares of the insurance provider’s stock worth $367,000 after purchasing an additional 151 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of W.R. Berkley by 4.8% during the third quarter. Allworth Financial LP now owns 3,328 shares of the insurance provider’s stock worth $255,000 after purchasing an additional 153 shares during the period. 68.82% of the stock is owned by institutional investors and hedge funds.

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.