W. R. Berkley Co. (NYSE:WRB) Stock Position Increased by Thrive Wealth Management LLC

Thrive Wealth Management LLC lifted its position in W. R. Berkley Co. (NYSE:WRB) by 49.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,502 shares of the insurance provider’s stock after buying an additional 1,811 shares during the period. Thrive Wealth Management LLC’s holdings in W. R. Berkley were worth $312,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC raised its stake in shares of W. R. Berkley by 563.2% in the 1st quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock worth $40,000 after buying an additional 383 shares in the last quarter. Intelligent Financial Strategies acquired a new stake in shares of W. R. Berkley during the first quarter worth $44,000. Quarry LP acquired a new stake in shares of W. R. Berkley during the second quarter worth $42,000. Covestor Ltd raised its position in shares of W. R. Berkley by 173.0% during the first quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 346 shares during the period. Finally, Kiely Wealth Advisory Group Inc. raised its position in shares of W. R. Berkley by 49.9% during the second quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 193 shares during the period. Institutional investors own 68.82% of the company’s stock.

W. R. Berkley Stock Up 2.4 %

NYSE WRB traded up $1.35 on Friday, reaching $58.51. The stock had a trading volume of 1,434,422 shares, compared to its average volume of 1,762,285. The company has a market capitalization of $22.44 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.05 and a beta of 0.62. The business has a 50 day moving average price of $57.48 and a 200 day moving average price of $55.50. W. R. Berkley Co. has a 1 year low of $41.82 and a 1 year high of $61.28. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.36.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.12. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company posted $1.14 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. On average, analysts forecast that W. R. Berkley Co. will post 4.03 EPS for the current fiscal year.

W. R. Berkley Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. W. R. Berkley’s dividend payout ratio is presently 8.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. StockNews.com lowered W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group lowered W. R. Berkley from a “buy” rating to a “neutral” rating and dropped their price target for the company from $58.67 to $55.33 in a research report on Thursday, June 13th. Barclays began coverage on W. R. Berkley in a research report on Wednesday, September 4th. They set an “underweight” rating and a $56.00 price target on the stock. TD Cowen began coverage on W. R. Berkley in a research report on Monday, July 1st. They set a “buy” rating and a $68.67 price target on the stock. Finally, Truist Financial upped their price target on W. R. Berkley from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, W. R. Berkley has a consensus rating of “Hold” and a consensus price target of $59.67.

W. R. Berkley Company Profile

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.