Company profile

Investment data

Data from SEC filings
Top 50 of 95 long holdings
End of quarter 31 Dec 19
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$40.16M 1.25M 1.25M 0
$23.11M 266.83K 266.83K 0
$21.54M 308.65K 308.65K 0
$20.94M 437.08K 437.08K 0
$18.69M 1.8M 1.93M -6.7
$17.58M 254.38K NEW
$17.12M 1.66M 1.36M +22.9
$14.97M 2M 2M 0
$14.51M 1.41M 1.32M +7.3
$13.77M 1.33M 1.33M 0
$13.48M 1.32M 1.32M 0
$13.07M 1.28M 1.03M +23.6
$12.65M 1.24M 1.19M +4.2
$10.95M 1.05M 1.19M -11.6
$10.66M 1.05M 953.3K +10.5
$10.04M 118.2K NEW
$9.97M 976.21K 786.8K +24.1
$9.74M 942.14K 942.14K 0
$9.68M 157.67K 157.67K 0
$9.6M 929.38K 929.38K 0
$9.07M 860.22K 1.26M -31.8
$7.74M 753.87K 753.87K 0
$7.66M 741.09K 642.59K +15.3
$7.63M 754.29K 729.29K +3.4
$7.35M 709.88K 198.48K +257.6
$7.19M 703.11K 703.11K 0
$6.24M 593.11K 631.28K -6.0
$5.99M 567.78K 1.26M -54.8
$5.77M 544.6K 544.6K 0
$5.05M 493.69K NEW
$4.94M 486.8K 163.87K +197.1
$4.74M 457.42K 311.78K +46.7
$4.4M 433.23K 396.88K +9.2
$3.95M 396.88K 396.88K 0
$3.69M 121.12K 92.32K +31.2
$3.53M 352.35K 198.44K +77.6
$3.48M 347.27K 347.27K 0
$3.45M 347.03K 347.03K 0
$3.45M 334.43K NEW
$3.44M 344.75K 297.66K +15.8
$2.99M 297.03K 297.03K 0
$2.94M 297.66K 297.66K 0
$2.67M 259.26K 259.26K 0
$2.62M 43.8K NEW
$2.58M 249.28K NEW
$2.51M 246.25K NEW
$2.46M 248.05K NEW
$2.31M 51.47K NEW
$2M 198.44K 198.44K 0
$1.99M 26.79K 26.79K 0
Holdings list only includes long positions. Only includes long positions.

Calendar

20 Feb 20
4 Apr 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Dec 19 Sep 19 Jun 19 Mar 19
Revenue 1.98B 1.97B 2.02B 1.94B
Net income 119.31M 165.21M 216.71M 180.72M
Diluted EPS 0.62 0.85 1.12 0.94
Net profit margin 6.04% 8.40% 10.71% 9.33%
Net change in cash 211.16M -445.62M 320.75M 119.83M
Cash on hand 1.02B 812.55M 1.26B 937.43M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 7.9B 7.69B 7.68B 7.65B
Net income 681.94M 640.75M 549.09M 601.92M
Diluted EPS 3.52 3.33 2.84 4.68
Net profit margin 8.63% 8.33% 7.15% 7.86%
Net change in cash 206.11M -132.87M 155.19M 31.65M
Cash on hand 1.02B 817.6M 950.47M 795.29M

Financial data from Berkley W R earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
12 Mar 20 Blaylock Ronald E Common Stock Grant Aquire A 0 5,767 0 39,471
12 Mar 20 Blaylock Ronald E Common Stock Gift Dispose G 0 5,767 0 11,535
2 Mar 20 Mark Ellwood Brockbank Phantom Stock Common Stock Grant Aquire A 68.385 36 2.46K 36,940
2 Mar 20 Leigh Ann Pusey Phantom Stock Common Stock Grant Aquire A 68.385 18 1.23K 1,880
2 Mar 20 Christopher L Augostini Phantom Stock Common Stock Grant Aquire A 68.385 36 2.46K 5,277
3 Feb 20 Jonathan Talisman Phantom Stock Common Stock Grant Aquire A 74.367 141 10.49K 141
70.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 476 433 +9.9%
Opened positions 95 67 +41.8%
Closed positions 52 40 +30.0%
Increased positions 139 128 +8.6%
Reduced positions 167 152 +9.9%
13F shares
Current Prev Q Change
Total value 8.94B 9.24B -3.2%
Total shares 129.32M 128.05M +1.0%
Total puts 26.3K 29.65K -11.3%
Total calls 24.4K 33.75K -27.7%
Total put/call ratio 1.1 0.9 +22.7%
Largest owners
Shares Value Change
Vanguard 17.59M $1.22B +15.4%
BLK BlackRock 15.87M $1.1B -20.7%
Atlanta Capital Management Co L L C 10.2M $705.06M -0.1%
STT State Street 8.24M $569.36M +24.4%
JHG Janus Henderson 7.21M $497.93M +0.4%
First Eagle Investment Management 6.86M $474.1M -6.8%
Geode Capital Management 2.73M $188.52M +52.5%
Wellington Management 2.5M $172.86M -3.4%
Victory Capital Management 2.4M $165.92M -20.6%
JPM JPMorgan Chase & Co. 2.19M $151.09M -29.0%
Largest transactions
Shares Bought/sold Change
BLK BlackRock 15.87M -4.14M -20.7%
Vanguard 17.59M +2.35M +15.4%
STT State Street 8.24M +1.62M +24.4%
Norges Bank 1.4M +1.4M NEW
Boston Partners 1.19M -952.02K -44.5%
Geode Capital Management 2.73M +940.57K +52.5%
JPM JPMorgan Chase & Co. 2.19M -891.3K -29.0%
Millennium Management 1.53M +726.32K +90.8%
Madison Investment 0 -659.44K EXIT
Madison Asset Management 655K +655K NEW

Financial report summary

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Competition
Berkshire HathawayMunich ReSwiss Re
Risks
  • Our results may fluctuate as a result of many factors, including cyclical changes in the insurance and reinsurance industry.
  • Changing climate conditions may increase the frequency and severity of catastrophic events and thereby adversely affect our financial condition and results.
  • Our international operations expose us to investment, political and economic risks, including foreign currency and credit risk.
  • The United Kingdom leaving the EU could adversely affect our business.
  • We may be unable to attract and retain key personnel and qualified employees.
  • We are subject to credit risk relating to our policyholders, independent agents and brokers.
  • We are rated by A.M. Best, Standard & Poor's, Moody's, and Fitch, and a decline in these ratings could affect our standing in the insurance industry and cause our sales and earnings to decrease.
  • If market conditions cause reinsurance to be more costly or unavailable, we may be required to bear increased risks or reduce the level of our underwriting commitments.
  • Depending on conditions in the financial markets and the general economy, we may be unable to raise debt or equity capital if needed.
  • We may not find suitable acquisition candidates or new insurance ventures and even if we do, we may not successfully integrate any such acquired companies or successfully invest in such ventures.
  • We could be adversely affected by recent and future changes in U.S. Federal income tax laws.
  • We have invested a portion of our assets in equity securities, merger arbitrage securities, investment funds, private equity, loans and real estate related assets, which are subject to significant volatility and may decline in value.
  • We are an insurance holding company and, therefore, may not be able to receive dividends in needed amounts.
  • Laws and regulations of the jurisdictions in which we conduct business could delay, deter or prevent an attempt to acquire control of us that stockholders might consider to be desirable, and may restrict a stockholder's ability to purchase our common stock.
  • Certain provisions in our organizational documents may have the effect of hindering, delaying or preventing third party takeovers and thus may prevent our stockholders from receiving premium prices for their shares in an unsolicited takeover or make it more difficult for third parties to replace our current management.
Management Discussion
  • Following is a summary of gross and net premiums written, net premiums earned, loss ratios (losses and loss expenses incurred expressed as a percentage of net premiums earned), expense ratios (underwriting expenses expressed as a percentage of net premiums earned) and GAAP combined ratios (sum of loss ratio and expense ratio) for each of our business segments for the years ended December 31, 2018 and 2017. The GAAP combined ratio represents a measure of underwriting profitability, excluding investment income. A GAAP combined ratio in excess of 100 indicates an underwriting loss; a number below 100 indicates an underwriting profit. 
  • The Company reported net income of $641 million in 2018 compared to $549 million in 2017. The 17% increase in net income was primarily due to an after-tax increase in net investment income of $79 million, mainly driven by growth in the fixed maturity security portfolio, higher interest rates and an increase in investment funds, an after-tax increase in underwriting income of $72 million, a $34 million increase in after-tax foreign currency gains, an after-tax increase in income from non-insurance businesses of $6 million, and a $60 million decrease in tax expense primarily due to the reduction of the federal corporate tax rate from 35% to 21%, partially offset by a decrease in after-tax net investment gains of $145 million, an after-tax increase in interest expense of $8 million, an after-tax reduction in insurance service fee income of $4 million, and an after-tax increase in corporate expenses of $2 million. The number of weighted average diluted shares decreased slightly primarily due to share repurchases.
  • Premiums. Gross premiums written were $7,702 million in 2018, an increase of 3% from $7,477 million in 2017. The increase was due to growth in the Insurance segment of $281 million, partially offset by a decrease in the Reinsurance & Monoline Excess segment of $56 million. Approximately 78% of policies expiring in 2018 were renewed, and 79% of policies expiring in 2017 were renewed.
Content analysis ?
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