Insider Buying: W.R. Berkley (NYSE:WRB) Major Shareholder Purchases $8,099,107.20 in Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 112,176 shares of W.R. Berkley stock in a transaction on Tuesday, March 3rd. The stock was bought at an average price of $72.20 per share, for a total transaction of $8,099,107.20. Following the completion of the acquisition, the insider owned 58,780,450 shares in the company, valued at $4,243,948,490. The trade was a 0.19% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

W.R. Berkley Stock Down 1.2%

WRB opened at $69.52 on Friday. The company has a market capitalization of $26.03 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 2.95 and a beta of 0.35. The firm has a 50-day simple moving average of $69.71 and a two-hundred day simple moving average of $72.22. 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 $60.68 and a 52 week high of $78.96.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Monday, January 26th. The insurance provider reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). W.R. Berkley had a return on equity of 18.17% and a net margin of 12.10%.The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. W.R. Berkley’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts forecast that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given 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, February 23rd. W.R. Berkley’s dividend payout ratio is currently 8.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WRB shares. Barclays reaffirmed an “underweight” rating and set a $64.00 price target (down from $73.00) on shares of W.R. Berkley in a research note on Thursday, January 8th. UBS Group set a $71.00 price target on shares of W.R. Berkley in a report on Monday, February 2nd. TD Cowen lowered W.R. Berkley from a “buy” rating to a “sell” rating and dropped their price target for the stock from $77.00 to $55.00 in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods upped their price objective on W.R. Berkley from $73.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, January 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 target price (down from $76.00) on shares of W.R. Berkley in a report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Entrust Financial LLC bought a new stake in shares of W.R. Berkley during the 4th quarter worth approximately $25,000. Compass Financial Services Inc purchased a new stake in W.R. Berkley in the third quarter worth $26,000. Hazlett Burt & Watson Inc. increased its stake in W.R. Berkley by 140.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 210 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of W.R. Berkley during the second quarter worth $27,000. Finally, DV Equities LLC purchased a new stake in shares of W.R. Berkley during the fourth quarter valued at $29,000. Institutional investors own 68.82% of the company’s stock.

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.