Insider Buying: W.R. Berkley (NYSE:WRB) Major Shareholder Purchases $15,523,200.00 in Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 220,000 shares of the business’s stock in a transaction on Friday, December 26th. The stock was bought at an average cost of $70.56 per share, for a total transaction of $15,523,200.00. Following the purchase, the insider owned 49,886,511 shares of the company’s stock, valued at approximately $3,519,992,216.16. This represents a 0.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Stock Down 1.0%

Shares of WRB stock opened at $70.10 on Thursday. W.R. Berkley Corporation has a 12-month low of $55.97 and a 12-month high of $78.96. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $72.91 and a 200-day moving average of $72.50. The company has a market capitalization of $26.64 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 2.71 and a beta of 0.37.

W.R. Berkley (NYSE:WRB) last announced its earnings results on Monday, October 20th. The insurance provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.16 billion. W.R. Berkley had a net margin of 13.01% and a return on equity of 18.86%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.93 EPS. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were issued a dividend of $0.09 per share. The ex-dividend date 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 dividend payout ratio (DPR) is presently 7.56%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group reaffirmed a “neutral” rating and set a $87.00 price target on shares of W.R. Berkley in a research report on Friday, November 7th. Wolfe Research started coverage on shares of W.R. Berkley in a report on Monday, September 15th. They set a “peer perform” rating for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of W.R. Berkley in a research report on Wednesday, October 8th. Barclays reissued an “underweight” rating and set a $73.00 price target on shares of W.R. Berkley in a research report on Wednesday, October 8th. Finally, Mizuho set a $67.00 price objective on W.R. Berkley and gave the company a “neutral” rating in a report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.93.

Institutional Trading of W.R. Berkley

Institutional investors and hedge funds have recently bought and sold shares of the business. Compass Financial Services Inc acquired a new stake in shares of W.R. Berkley in the third quarter valued at approximately $26,000. Hilltop National Bank bought a new stake in W.R. Berkley in the 2nd quarter valued at $27,000. Twin Peaks Wealth Advisors LLC acquired a new stake in W.R. Berkley during the 2nd quarter valued at $27,000. Triumph Capital Management bought a new position in W.R. Berkley during the third quarter worth $35,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of W.R. Berkley in the second quarter valued at $34,000. 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.