Swiss National Bank grew its stake in James River Group Holdings, Ltd. (NASDAQ:JRVR – Get Rating) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,099 shares of the insurance provider's stock after acquiring an additional 5,700 shares during the period. Swiss National Bank owned 0.24% of James River Group worth $2,180,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of JRVR. Teacher Retirement System of Texas boosted its holdings in shares of James River Group by 26.0% in the fourth quarter. Teacher Retirement System of Texas now owns 7,370 shares of the insurance provider's stock valued at $212,000 after purchasing an additional 1,521 shares during the period. ProShare Advisors LLC increased its stake in shares of James River Group by 62.2% during the fourth quarter. ProShare Advisors LLC now owns 9,169 shares of the insurance provider's stock valued at $265,000 after buying an additional 3,515 shares during the period. Diversified Trust Co raised its holdings in shares of James River Group by 8.2% in the first quarter. Diversified Trust Co now owns 10,825 shares of the insurance provider's stock valued at $268,000 after acquiring an additional 820 shares in the last quarter. We Are One Seven LLC grew its holdings in James River Group by 11.3% during the 4th quarter. We Are One Seven LLC now owns 14,432 shares of the insurance provider's stock worth $416,000 after acquiring an additional 1,466 shares in the last quarter. Finally, AlphaCrest Capital Management LLC grew its holdings in James River Group by 116.9% during the 4th quarter. AlphaCrest Capital Management LLC now owns 14,488 shares of the insurance provider's stock worth $417,000 after acquiring an additional 7,808 shares in the last quarter. 99.58% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
A number of research firms have recently issued reports on JRVR. StockNews.com downgraded shares of James River Group from a "hold" rating to a "sell" rating in a research note on Wednesday, August 24th. Barclays increased their target price on James River Group from $24.00 to $25.00 and gave the company a "maintains" rating in a research report on Thursday, August 4th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, James River Group presently has an average rating of "Moderate Buy" and a consensus target price of $31.40.
James River Group Trading Down 1.5 %
NASDAQ:JRVR opened at $23.76 on Thursday. The stock has a market capitalization of $889.81 million, a price-to-earnings ratio of -11.65 and a beta of 0.35. James River Group Holdings, Ltd. has a 52 week low of $19.76 and a 52 week high of $39.60. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $23.97 and a 200 day moving average of $24.01.
James River Group (NASDAQ:JRVR – Get Rating) last issued its quarterly earnings data on Monday, August 1st. The insurance provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. James River Group had a negative return on equity of 8.56% and a negative net margin of 9.55%. The firm had revenue of $184.81 million during the quarter, compared to analyst estimates of $200.07 million. During the same quarter in the prior year, the business posted $0.54 EPS. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that James River Group Holdings, Ltd. will post 1.95 earnings per share for the current fiscal year.
James River Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 12th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.84%. James River Group's payout ratio is -9.80%.
About James River Group
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James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. The 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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