W.R. Berkley Corporation (NYSE:WRB - Get Free Report) major shareholder Sumitomo Insurance Co Mitsui bought 112,176 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The stock was bought at an average cost 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. This trade represents a 0.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
W.R. Berkley Stock Performance
NYSE:WRB opened at $72.68 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a 50-day simple moving average of $69.74 and a two-hundred day simple moving average of $72.25. The firm has a market capitalization of $27.22 billion, a PE ratio of 16.33, a P/E/G ratio of 3.07 and a beta of 0.35. 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 - Get Free Report) last posted its quarterly earnings data on Monday, January 26th. The insurance provider reported $1.13 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.01). The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. W.R. Berkley had a return on equity of 18.35% and a net margin of 12.10%.The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. Analysts forecast that W.R. Berkley Corporation will post 4.33 EPS for the current year.
W.R. Berkley Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.36 annualized dividend and a yield of 0.5%. W.R. Berkley's payout ratio is currently 8.09%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of W.R. Berkley from $68.00 to $66.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 27th. Cantor Fitzgerald reaffirmed 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. Keefe, Bruyette & Woods raised their price target on W.R. Berkley from $73.00 to $76.00 and gave the company a "market perform" rating in a report on Tuesday, January 6th. Weiss Ratings restated a "buy (b)" rating on shares of W.R. Berkley in a research report on Wednesday, January 21st. Finally, Morgan Stanley set a $73.00 price objective on W.R. Berkley in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $69.67.
Read Our Latest Stock Analysis on W.R. Berkley
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in WRB. Johnson Financial Group Inc. grew its position in shares of W.R. Berkley by 22.3% during the third quarter. Johnson Financial Group Inc. now owns 756 shares of the insurance provider's stock valued at $58,000 after purchasing an additional 138 shares in the last quarter. Maridea Wealth Management LLC boosted its stake in W.R. Berkley by 2.0% during the third quarter. Maridea Wealth Management LLC now owns 7,180 shares of the insurance provider's stock valued at $528,000 after buying an additional 141 shares during the last quarter. Inspire Advisors LLC grew its holdings in W.R. Berkley by 1.0% during the 4th quarter. Inspire Advisors LLC now owns 14,364 shares of the insurance provider's stock valued at $1,007,000 after buying an additional 144 shares in the last quarter. Physician Wealth Advisors Inc. grew its holdings in W.R. Berkley by 40.2% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 523 shares of the insurance provider's stock valued at $40,000 after buying an additional 150 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in W.R. Berkley by 3.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 4,788 shares of the insurance provider's stock worth $367,000 after acquiring an additional 151 shares during the last quarter. Institutional investors own 68.82% of the company's stock.
W.R. Berkley Company Profile
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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.
Further Reading
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