Flax Pond Capital LLC trimmed its position in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR – Free Report) by 97.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,200 shares of the insurance provider’s stock after selling 524,567 shares during the quarter. Flax Pond Capital LLC’s holdings in James River Group were worth $89,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC increased its position in shares of James River Group by 13.0% in the 1st quarter. Jane Street Group LLC now owns 25,297 shares of the insurance provider’s stock valued at $106,000 after buying an additional 2,918 shares in the last quarter. Geode Capital Management LLC raised its stake in James River Group by 10.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,002,499 shares of the insurance provider’s stock worth $5,875,000 after buying an additional 95,351 shares during the period. Invesco Ltd. lifted its holdings in James River Group by 7.6% during the second quarter. Invesco Ltd. now owns 298,243 shares of the insurance provider’s stock worth $1,748,000 after acquiring an additional 20,954 shares in the last quarter. First Trust Advisors LP lifted its holdings in James River Group by 26.2% during the second quarter. First Trust Advisors LP now owns 148,153 shares of the insurance provider’s stock worth $868,000 after acquiring an additional 30,802 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in James River Group in the second quarter valued at about $61,000. 95.21% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on JRVR shares. Citizens Jmp restated a “market perform” rating on shares of James River Group in a report on Tuesday, May 5th. Weiss Ratings cut James River Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Zacks Research upgraded James River Group from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. UBS Group cut James River Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.00 to $4.75 in a research note on Tuesday, May 19th. Finally, Citigroup cut James River Group from a “hold” rating to a “market perform” rating in a research note on Tuesday, May 5th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $6.44.
James River Group Trading Down 5.5%
JRVR opened at $4.47 on Friday. The stock has a market capitalization of $206.69 million, a P/E ratio of 13.15 and a beta of -0.19. 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 Holdings, Ltd. has a 12 month low of $3.76 and a 12 month high of $7.20. The firm’s fifty day simple moving average is $4.28 and its 200 day simple moving average is $5.52.
James River Group (NASDAQ:JRVR – Get Free Report) last released its earnings results on Monday, May 4th. The insurance provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). James River Group had a return on equity of 10.79% and a net margin of 4.34%.The firm had revenue of $151.38 million for the quarter, compared to the consensus estimate of $155.07 million. As a group, research analysts anticipate that James River Group Holdings, Ltd. will post 0.8 EPS for the current fiscal year.
James River Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 8th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend 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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