Key Points
- Sumitomo Insurance Co Mitsui bought 147,000 shares of W.R. Berkley on Feb. 27 at an average price of $71.63 (≈$10.53M), increasing its holding to 58,522,274 shares — a 0.25% rise valued at about $4.19B per the SEC filing.
- W.R. Berkley declared a quarterly dividend of $0.09 per share (ex-dividend Feb. 23, payable Mar. 4), equal to a $0.36 annualized payout and roughly a 0.5% yield.
- Shares trade near $71.64 with a market cap of $27.23B and a P/E of 16.1; analysts' consensus is a "Hold" with an average price target of $69.67 (4 Buy, 9 Hold, 4 Sell).
W.R. Berkley Corporation (NYSE:WRB - Get Free Report) major shareholder Sumitomo Insurance Co Mitsui bought 147,000 shares of the business's stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average cost of $71.63 per share, with a total value of $10,529,610.00. Following the completion of the purchase, the insider directly owned 58,522,274 shares of the company's stock, valued at $4,191,950,486.62. This represents a 0.25% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
W.R. Berkley Trading Up 0.1%
Shares of W.R. Berkley stock opened at $71.64 on Friday. W.R. Berkley Corporation has a twelve month low of $60.68 and a twelve 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 business has a 50-day moving average price of $69.63 and a 200-day moving average price of $72.20. The firm has a market cap of $27.23 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 3.00 and a beta of 0.37.
W.R. Berkley (NYSE:WRB - Get Free Report) last announced its quarterly 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 net margin of 12.10% and a return on equity of 18.35%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the company posted $1.13 earnings per share. W.R. Berkley's quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.
W.R. Berkley Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be given a dividend of $0.09 per share. The ex-dividend date is Monday, February 23rd. This represents a $0.36 annualized dividend and a yield of 0.5%. W.R. Berkley's dividend payout ratio (DPR) is 8.09%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on WRB. TD Cowen cut shares of W.R. Berkley from a "buy" rating to a "sell" rating and decreased their target price for the company from $77.00 to $55.00 in a research report on Tuesday, January 20th. Cantor Fitzgerald restated an "overweight" rating and set a $75.00 price objective (down from $76.00) on shares of W.R. Berkley in a research report on Monday, February 2nd. Bank of America dropped their target price on W.R. Berkley from $69.00 to $66.00 and set a "neutral" rating for the company in a report on Tuesday, January 27th. UBS Group set a $71.00 price target on W.R. Berkley in a research report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of W.R. Berkley in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, W.R. Berkley has an average rating of "Hold" and a consensus price target of $69.67.
Check Out Our Latest Stock Analysis on W.R. Berkley
Institutional Trading of W.R. Berkley
Hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsui Sumitomo Insurance Co. Ltd. purchased a new stake in shares of W.R. Berkley during the fourth quarter valued at $3,542,919,000. Jefferies Financial Group Inc. bought a new stake in W.R. Berkley during the 3rd quarter valued at about $682,816,000. Norges Bank bought a new stake in W.R. Berkley during the 4th quarter valued at about $435,752,000. Balyasny Asset Management L.P. boosted its position in W.R. Berkley by 6,503.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,561,230 shares of the insurance provider's stock valued at $188,174,000 after buying an additional 2,601,230 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in W.R. Berkley by 35,572.5% in the 4th 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 worth $155,660,000 after acquiring an additional 2,213,679 shares in the last quarter. Hedge funds and other institutional investors own 68.82% of the company's stock.
About W.R. Berkley
(
Get Free Report)
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.
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