W.R. Berkley (NYSE:WRB) Major Shareholder Buys $11,369,205.60 in Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 160,582 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $70.80 per share, with a total value of $11,369,205.60. Following the completion of the acquisition, the insider owned 57,668,620 shares of the company’s stock, valued at $4,082,938,296. This trade represents a 0.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

W.R. Berkley Stock Up 1.1%

W.R. Berkley stock opened at $71.08 on Monday. The firm’s 50 day moving average price is $69.40 and its two-hundred day moving average price is $72.19. The firm has a market cap of $27.01 billion, a PE ratio of 15.97, a P/E/G ratio of 2.97 and a beta of 0.37. W.R. Berkley Corporation has a twelve month low of $60.20 and a twelve month high of $78.96. 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 results 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). W.R. Berkley had a return on equity of 18.35% and a net margin of 12.10%.The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the company posted $1.13 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, February 23rd. W.R. Berkley’s dividend payout ratio is presently 8.09%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore set a $69.00 price objective on W.R. Berkley and gave the stock an “underperform” rating in a report on Wednesday, January 7th. Barclays restated an “underweight” rating and set a $64.00 price target (down previously from $73.00) on shares of W.R. Berkley in a research note on Thursday, January 8th. UBS Group set a $71.00 price objective on shares of W.R. Berkley in a research note on Monday, February 2nd. Wells Fargo & Company decreased their price objective on shares of W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating for the company in a report on Tuesday, January 27th. Finally, Keefe, Bruyette & Woods raised their target price 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 investment 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, W.R. Berkley currently has a consensus rating of “Hold” and an average price target of $69.67.

Institutional Investors Weigh In On W.R. Berkley

A number of hedge funds have recently bought and sold shares of the company. Mitsui Sumitomo Insurance Co. Ltd. bought a new position in shares of W.R. Berkley in the fourth quarter worth about $3,542,919,000. Jefferies Financial Group Inc. acquired a new stake in W.R. Berkley in the 3rd quarter valued at approximately $682,816,000. Norges Bank bought a new position in W.R. Berkley in the 4th quarter worth approximately $435,752,000. Balyasny Asset Management L.P. lifted its holdings 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 buying an additional 2,601,230 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of W.R. Berkley by 35,572.5% in the fourth 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. 68.82% of the stock is currently owned by institutional investors.

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.