Blueshift Asset Management LLC bought a new stake in James River Group Holdings, Ltd. (NASDAQ:JRVR – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,355 shares of the insurance provider's stock, valued at approximately $207,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Champlain Investment Partners LLC grew its position in shares of James River Group by 0.4% in the fourth quarter. Champlain Investment Partners LLC now owns 1,954,785 shares of the insurance provider's stock valued at $56,317,000 after purchasing an additional 7,985 shares during the last quarter. Bank of America Corp DE grew its position in shares of James River Group by 5,456.7% in the fourth quarter. Bank of America Corp DE now owns 1,684,794 shares of the insurance provider's stock valued at $48,538,000 after purchasing an additional 1,654,474 shares during the last quarter. Bernzott Capital Advisors grew its position in shares of James River Group by 0.4% in the first quarter. Bernzott Capital Advisors now owns 1,024,246 shares of the insurance provider's stock valued at $25,340,000 after purchasing an additional 3,806 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of James River Group by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 840,738 shares of the insurance provider's stock valued at $24,220,000 after purchasing an additional 67,141 shares during the last quarter. Finally, Eaton Vance Management grew its position in shares of James River Group by 480.9% in the fourth quarter. Eaton Vance Management now owns 556,220 shares of the insurance provider's stock valued at $15,979,000 after purchasing an additional 460,467 shares during the last quarter. Institutional investors and hedge funds own 99.58% of the company's stock.
Get James River Group alerts:Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on JRVR shares. StockNews.com downgraded James River Group from a "hold" rating to a "sell" rating in a research report on Friday. Barclays increased their price target on James River Group from $24.00 to $25.00 and gave the stock a "maintains" rating in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company's stock. According to MarketBeat, James River Group presently has an average rating of "Moderate Buy" and an average price target of $31.40.
James River Group Stock Up 0.8 %
NASDAQ JRVR opened at $24.17 on Friday. The business has a fifty day moving average price of $23.97 and a two-hundred day moving average price of $23.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.60 and a quick ratio of 0.60. James River Group Holdings, Ltd. has a fifty-two week low of $19.76 and a fifty-two week high of $39.60. The stock has a market capitalization of $905.17 million, a PE ratio of -11.76 and a beta of 0.35.James River Group (NASDAQ:JRVR – Get Rating) last released its earnings results on Monday, August 1st. The insurance provider reported $0.52 earnings per share for the quarter, topping 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 analysts' expectations of $200.07 million. During the same period in the prior year, the company earned $0.54 earnings per share. The company's quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts expect that James River Group Holdings, Ltd. will post 1.95 earnings per share for the current fiscal year.
James River Group Announces Dividend
The company 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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, September 9th. James River Group's payout ratio is -9.80%.
James River Group Profile
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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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