Short Interest in W.R. Berkley Corporation (NYSE:WRB) Declines By 29.6%

W.R. Berkley Corporation (NYSE:WRB) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 17,506,059 shares, a decrease of 29.6% from the December 15th total of 24,860,492 shares. Currently, 6.0% of the company’s stock are short sold. Based on an average daily volume of 2,679,124 shares, the days-to-cover ratio is presently 6.5 days. Based on an average daily volume of 2,679,124 shares, the days-to-cover ratio is presently 6.5 days. Currently, 6.0% of the company’s stock are short sold.

Insider Buying and Selling at W.R. Berkley

In other news, major shareholder Sumitomo Insurance Co L. Mitsui acquired 325,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were purchased at an average cost of $68.03 per share, with a total value of $22,109,750.00. Following the acquisition, the insider directly owned 52,496,504 shares of the company’s stock, valued at $3,571,337,167.12. The trade was a 0.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 4,454,916 shares of company stock valued at $309,561,870 in the last 90 days. 23.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On W.R. Berkley

Institutional investors have recently added to or reduced their stakes in the business. Compass Financial Services Inc bought a new position in shares of W.R. Berkley in the third quarter worth approximately $26,000. Hilltop National Bank bought a new position in shares of W.R. Berkley in the 2nd quarter worth $27,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of W.R. Berkley in the 2nd quarter worth $27,000. Elevation Point Wealth Partners LLC bought a new stake in shares of W.R. Berkley during the 2nd quarter worth $34,000. Finally, Triumph Capital Management purchased a new position in W.R. Berkley in the third quarter worth $35,000. 68.82% of the stock is currently owned by institutional investors.

W.R. Berkley Stock Performance

WRB traded down $0.86 on Monday, hitting $67.85. The company’s stock had a trading volume of 3,279,517 shares, compared to its average volume of 2,280,191. The company’s 50 day simple moving average is $71.70 and its 200-day simple moving average is $72.17. 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 has a 12 month low of $56.86 and a 12 month high of $78.96. The firm has a market cap of $25.79 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 2.52 and a beta of 0.39.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings data on Monday, October 20th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. W.R. Berkley had a return on equity of 18.86% and a net margin of 13.01%.The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the company posted $0.93 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts forecast that W.R. Berkley will post 4.33 EPS for the current year.

W.R. Berkley Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were paid a $0.09 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.36 annualized dividend and a yield of 0.5%. W.R. Berkley’s dividend payout ratio is currently 7.56%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WRB shares. Wells Fargo & Company set a $68.00 target price on W.R. Berkley and gave the company an “equal weight” rating in a report on Tuesday, January 13th. BMO Capital Markets lowered W.R. Berkley from a “market perform” rating to an “underperform” rating and set a $64.00 target price for the company. in a research report on Wednesday, October 22nd. 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 report on Thursday, January 8th. Morgan Stanley set a $75.00 price objective on shares of W.R. Berkley in a report on Tuesday, December 16th. Finally, Jefferies Financial Group reduced their target price on shares of W.R. Berkley from $76.00 to $75.00 and set a “hold” rating for the company in a research report on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, W.R. Berkley presently has an average rating of “Hold” and an average price target of $73.00.

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.