PhiloSmith Capital Corp Cuts Stake in James River Group Holdings Ltd (NASDAQ:JRVR)

PhiloSmith Capital Corp lowered its holdings in shares of James River Group Holdings Ltd (NASDAQ:JRVR) by 58.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,550 shares of the insurance provider’s stock after selling 75,375 shares during the quarter. James River Group makes up 1.4% of PhiloSmith Capital Corp’s portfolio, making the stock its 21st biggest holding. PhiloSmith Capital Corp owned approximately 0.18% of James River Group worth $2,578,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings in James River Group by 2,014.6% during the 2nd quarter. Bank of Montreal Can now owns 2,601 shares of the insurance provider’s stock valued at $122,000 after buying an additional 2,478 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in James River Group by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 354,294 shares of the insurance provider’s stock valued at $16,616,000 after buying an additional 23,732 shares in the last quarter. Northern Trust Corp lifted its stake in shares of James River Group by 2.3% in the 2nd quarter. Northern Trust Corp now owns 347,384 shares of the insurance provider’s stock valued at $16,292,000 after purchasing an additional 7,933 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of James River Group by 58.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 66,042 shares of the insurance provider’s stock valued at $3,097,000 after purchasing an additional 24,344 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of James River Group by 3.2% in the 2nd quarter. BlackRock Inc. now owns 4,429,582 shares of the insurance provider’s stock valued at $207,749,000 after purchasing an additional 137,561 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

JRVR stock remained flat at $$42.17 on Tuesday. The company had a trading volume of 182,761 shares, compared to its average volume of 249,415. James River Group Holdings Ltd has a 1 year low of $34.26 and a 1 year high of $52.18. The stock’s 50-day simple moving average is $41.27 and its 200 day simple moving average is $43.72. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.28 billion, a PE ratio of 43.93 and a beta of 0.47.

James River Group (NASDAQ:JRVR) last announced its earnings results on Thursday, November 7th. The insurance provider reported ($0.73) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.97) by $0.24. The firm had revenue of $231.47 million for the quarter, compared to the consensus estimate of $227.50 million. James River Group had a return on equity of 4.86% and a net margin of 3.69%. As a group, sell-side analysts forecast that James River Group Holdings Ltd will post 1.25 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.85%. James River Group’s payout ratio is presently 51.50%.

Several equities research analysts have recently issued reports on JRVR shares. B. Riley lowered James River Group from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $45.00 to $40.00 in a research note on Wednesday, October 9th. TheStreet lowered James River Group from a “b-” rating to a “c” rating in a research report on Wednesday, November 6th. UBS Group raised James River Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 26th. BidaskClub lowered James River Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 4th. Finally, SunTrust Banks downgraded James River Group from a “buy” rating to a “hold” rating and cut their price target for the company from $55.00 to $40.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. James River Group has a consensus rating of “Hold” and a consensus price target of $42.50.

In other news, CEO J Adam Abram purchased 1,585 shares of the company’s stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $35.00 per share, for a total transaction of $55,475.00. Following the purchase, the chief executive officer now owns 428,610 shares in the company, valued at $15,001,350. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.50% of the stock is currently owned by insiders.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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Institutional Ownership by Quarter for James River Group (NASDAQ:JRVR)

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