Invictus RG purchased a new stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,643 shares of the insurance provider’s stock, valued at approximately $328,000.
Several other institutional investors have also modified their holdings of the company. ETRADE Capital Management LLC purchased a new position in James River Group Holdings during the third quarter valued at $992,000. Russell Investments Group Ltd. purchased a new position in James River Group Holdings during the fourth quarter valued at $1,024,000. State Street Corp boosted its position in James River Group Holdings by 11.6% in the fourth quarter. State Street Corp now owns 255,168 shares of the insurance provider’s stock valued at $10,602,000 after buying an additional 26,549 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in James River Group Holdings by 118.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 197,699 shares of the insurance provider’s stock valued at $8,214,000 after buying an additional 107,153 shares in the last quarter. Finally, Martingale Asset Management L P boosted its position in James River Group Holdings by 6.8% in the fourth quarter. Martingale Asset Management L P now owns 57,805 shares of the insurance provider’s stock valued at $2,402,000 after buying an additional 3,700 shares in the last quarter. 93.97% of the stock is owned by institutional investors.
James River Group Holdings, Ltd. (NASDAQ JRVR) traded up 2.32% during trading on Friday, hitting $40.17. 363,812 shares of the company traded hands. James River Group Holdings, Ltd. has a 12-month low of $31.77 and a 12-month high of $46.20. The stock has a 50-day moving average price of $41.02 and a 200-day moving average price of $41.12. The firm has a market capitalization of $1.18 billion, a P/E ratio of 15.06 and a beta of 0.56.
James River Group Holdings (NASDAQ:JRVR) last announced its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. James River Group Holdings had a return on equity of 10.59% and a net margin of 12.69%. The business had revenue of $176.40 million during the quarter, compared to the consensus estimate of $154.06 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. James River Group Holdings’s revenue was up 34.3% compared to the same quarter last year. Equities analysts expect that James River Group Holdings, Ltd. will post $2.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Monday, June 12th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, June 8th. This represents a $1.20 annualized dividend and a yield of 2.99%. James River Group Holdings’s dividend payout ratio (DPR) is currently 45.11%.
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Several equities analysts recently weighed in on JRVR shares. BMO Capital Markets raised their target price on shares of James River Group Holdings to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, February 21st. Zacks Investment Research cut shares of James River Group Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $44.75.
In other James River Group Holdings news, Director Bryan Martin sold 4,250,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $39.41, for a total value of $167,492,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 41.00% of the company’s stock.
About James River Group Holdings
James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.
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