Thrive Wealth Management LLC Has $311,000 Position in W. R. Berkley Co. (NYSE:WRB)

Thrive Wealth Management LLC reduced its stake in shares of W. R. Berkley Co. (NYSE:WRB) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,313 shares of the insurance provider’s stock after selling 189 shares during the period. Thrive Wealth Management LLC’s holdings in W. R. Berkley were worth $311,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp grew its holdings in shares of W. R. Berkley by 48.6% during the 3rd quarter. State Street Corp now owns 15,121,001 shares of the insurance provider’s stock valued at $857,814,000 after acquiring an additional 4,947,830 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of W. R. Berkley by 51.0% during the 3rd quarter. Janus Henderson Group PLC now owns 11,321,958 shares of the insurance provider’s stock valued at $642,294,000 after acquiring an additional 3,825,238 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of W. R. Berkley by 47.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,591,353 shares of the insurance provider’s stock valued at $429,266,000 after acquiring an additional 2,459,073 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of W. R. Berkley by 55.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,366,424 shares of the insurance provider’s stock valued at $417,897,000 after acquiring an additional 2,616,227 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of W. R. Berkley by 104.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,154,783 shares of the insurance provider’s stock valued at $235,701,000 after acquiring an additional 2,118,641 shares in the last quarter. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

W. R. Berkley Stock Down 1.3 %

Shares of WRB opened at $59.57 on Monday. The company has a 50-day simple moving average of $60.28 and a 200-day simple moving average of $58.56. The firm has a market capitalization of $22.70 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.00 and a beta of 0.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.36 and a current ratio of 0.36. W. R. Berkley Co. has a 52 week low of $48.69 and a 52 week high of $65.49.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.41%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, equities research analysts expect that W. R. Berkley Co. will post 3.95 earnings per share for the current year.

W. R. Berkley Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, December 16th. W. R. Berkley’s dividend payout ratio (DPR) is presently 8.20%.

Analyst Ratings Changes

WRB has been the subject of a number of recent research reports. Royal Bank of Canada upped their price objective on shares of W. R. Berkley from $57.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Jefferies Financial Group upped their price objective on shares of W. R. Berkley from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Evercore ISI upped their price objective on shares of W. R. Berkley from $57.00 to $60.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group upgraded shares of W. R. Berkley from a “neutral” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Monday, November 25th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.74.

About W. R. Berkley

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.