Hillsdale Investment Management Inc. increased its stake in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR – Free Report) by 45.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 448,860 shares of the insurance provider’s stock after purchasing an additional 140,400 shares during the period. Hillsdale Investment Management Inc. owned 0.98% of James River Group worth $2,828,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bronte Capital Management Pty Ltd. acquired a new position in shares of James River Group during the fourth quarter valued at approximately $786,000. Cantor Fitzgerald L. P. lifted its position in shares of James River Group by 37.5% in the third quarter. Cantor Fitzgerald L. P. now owns 434,657 shares of the insurance provider’s stock valued at $2,412,000 after acquiring an additional 118,657 shares in the last quarter. Enstar Group LTD acquired a new stake in shares of James River Group in the fourth quarter worth approximately $16,477,000. Donald Smith & CO. Inc. increased its position in shares of James River Group by 434.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,671,220 shares of the insurance provider’s stock worth $10,629,000 after purchasing an additional 1,358,785 shares in the last quarter. Finally, Flax Pond Capital LLC acquired a new position in James River Group in the 4th quarter valued at $3,427,000. 95.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have issued reports on JRVR. Wall Street Zen raised shares of James River Group from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Citizens Jmp reiterated a “market perform” rating on shares of James River Group in a research report on Tuesday, May 5th. Zacks Research raised shares of James River Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings cut shares of James River Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Finally, Citigroup downgraded shares of James River Group from a “hold” rating to a “market perform” rating in a report on Tuesday, May 5th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, James River Group has an average rating of “Reduce” and an average price target of $6.44.
James River Group Stock Down 3.3%
Shares of NASDAQ:JRVR opened at $4.40 on Thursday. The company has a market capitalization of $203.46 million, a price-to-earnings ratio of 12.94 and a beta of -0.19. James River Group Holdings, Ltd. has a 12-month low of $3.76 and a 12-month high of $7.20. The business has a 50-day moving average price of $4.18 and a 200 day moving average price of $5.65. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44.
James River Group (NASDAQ:JRVR – Get Free Report) last posted its earnings results on Monday, May 4th. The insurance provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). The company had revenue of $151.38 million during the quarter, compared to analyst estimates of $155.07 million. James River Group had a net margin of 4.34% and a return on equity of 10.79%. Sell-side analysts expect that James River Group Holdings, Ltd. will post 0.8 EPS for the current year.
James River Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 8th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, June 8th. James River Group’s dividend payout ratio is currently 11.76%.
James River Group Company Profile
James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.
Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.
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