Sumitomo Mitsui Trust Group Inc. Sells 153,588 Shares of W.R. Berkley Corporation $WRB

Sumitomo Mitsui Trust Group Inc. decreased its stake in W.R. Berkley Corporation (NYSE:WRB) by 21.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 563,768 shares of the insurance provider’s stock after selling 153,588 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.15% of W.R. Berkley worth $37,367,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Entrust Financial LLC acquired a new position in shares of W.R. Berkley during the fourth quarter worth $25,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of W.R. Berkley by 140.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 210 shares in the last quarter. DV Equities LLC bought a new stake in W.R. Berkley during the 4th quarter worth $29,000. Triumph Capital Management acquired a new position in W.R. Berkley in the 3rd quarter worth about $35,000. Finally, Quarry LP bought a new position in W.R. Berkley in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 68.82% of the company’s stock.

W.R. Berkley Stock Performance

Shares of WRB opened at $72.19 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.29. The firm’s fifty day simple moving average is $67.97 and its two-hundred day simple moving average is $68.29. W.R. Berkley Corporation has a 12 month low of $62.87 and a 12 month high of $78.96. The stock has a market capitalization of $26.88 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 3.42 and a beta of 0.29.

W.R. Berkley (NYSE:WRB) last announced its earnings results on Tuesday, April 21st. The insurance provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.13 by $0.17. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.18 billion. W.R. Berkley had a return on equity of 18.92% and a net margin of 12.64%.The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 EPS. As a group, analysts predict that W.R. Berkley Corporation will post 4.66 EPS for the current year.

W.R. Berkley Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.10 per share. This is a positive change from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. W.R. Berkley’s payout ratio is 8.47%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Evercore restated an “underperform” rating and set a $68.00 price target on shares of W.R. Berkley in a report on Friday. UBS Group set a $68.00 target price on shares of W.R. Berkley and gave the stock a “neutral” rating in a research report on Monday, April 27th. Wall Street Zen raised shares of W.R. Berkley from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Brean Capital cut shares of W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 price target for the company. in a research report on Wednesday, March 25th. Finally, Argus lowered shares of W.R. Berkley from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, W.R. Berkley currently has an average rating of “Reduce” and a consensus target price of $69.69.

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.