James River Group Holdings, Ltd. (NASDAQ: JRVR) Shares sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its position in James River Group Holdings, Ltd. (NASDAQ:JRVR – Get a rating) by 42.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The company held 101,930 shares of the insurance provider after selling 74,809 shares during the period. Russell Investments Group Ltd. owned 0.27% of James River Group worth $2,520,000 as of the date of its last filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently changed their positions in the company. Teacher Retirement System of Texas increased its holdings in James River Group by 26.0% in the fourth quarter. Teacher Retirement System of Texas now owns 7,370 shares of the insurance provider valued at $212,000 after buying 1,521 additional shares in the last quarter. ProShare Advisors LLC increased its stake in James River Group to 62.2% in the fourth quarter. ProShare Advisors LLC now owns 9,169 shares of the insurance provider valued at $265,000 after buying 3,515 additional shares in the last quarter. Diversified Trust Co increased its stake in James River Group by 8.2% in the first quarter. Diversified Trust Co now owns 10,825 shares of the insurance provider valued at $268,000 after buying an additional 820 shares in the last quarter. We Are One Seven LLC increased its stake in James River Group by 11.3% in the fourth quarter. We Are One Seven LLC now owns 14,432 shares of the insurance provider valued at $416,000 after purchasing an additional 1,466 shares in the last quarter. Finally, AlphaCrest Capital Management LLC increased its stake in James River Group by 116.9% in the fourth quarter. AlphaCrest Capital Management LLC now owns 14,488 shares of the insurance provider valued at $417,000 after buying an additional 7,808 shares in the last quarter. 98.78% of the shares are held by institutional investors and hedge funds.
Wall Street analysts predict growth
Several equity research analysts commented on the stock. Barclays raised its price target on James River Group shares from $24.00 to $25.00 and gave the company a “holding” rating in a Thursday, August 4, report. StockNews.com upgraded shares of James River Group from a “sell” to a “hold” rating in a research note on Thursday. One analyst gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.40.
The James River group grew by 2.4%
Shares of James River Group Shares opened at $25.98 on Monday. The company has a market capitalization of $972.95 million, a PE ratio of -12.74 and a beta of 0.35. James River Group Holdings, Ltd. has a 12-month low of $19.76 and a 12-month high of $39.69. The company’s 50-day moving average price is $23.79 and its 200-day moving average price is $24.24. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt ratio of 0.37.
James River Group (NASDAQ:JRVR – Get a rating) last released its quarterly results on Monday, August 1. The insurance provider reported earnings per share of $0.52 for the quarter, beating consensus analyst estimates of $0.50 by $0.02. The company posted revenue of $184.81 million for the quarter, versus analyst estimates of $200.07 million. James River Group had a negative net margin of 9.55% and a negative return on equity of 8.56%. James River Group’s quarterly revenue decreased 3.5% compared to the same quarter last year. During the same period last year, the company posted EPS of $0.54. On average, sell-side analysts expect James River Group Holdings, Ltd. will show an EPS of 1.95 for the current fiscal year.
James River Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30. Investors of record on Monday, September 12 will receive a dividend of $0.05. This represents a dividend of $0.20 on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, September 9. James River Group’s dividend payout rate is currently -9.80%.
About James River Group
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 writes liability and property insurance on a commercial excess and excess lines basis in all states and the District of Columbia.
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