Wealth Enhancement Advisory Services LLC Takes Position in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Wealth Enhancement Advisory Services LLC purchased a new position in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 25,017 shares of the insurance provider’s stock, valued at approximately $157,000. Wealth Enhancement Advisory Services LLC owned about 0.07% of James River Group as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in JRVR. Perpetual Ltd grew its position in shares of James River Group by 33.3% during the third quarter. Perpetual Ltd now owns 140,000 shares of the insurance provider’s stock worth $878,000 after acquiring an additional 35,000 shares during the last quarter. CWM LLC boosted its stake in James River Group by 40.7% during the 3rd quarter. CWM LLC now owns 38,890 shares of the insurance provider’s stock worth $244,000 after purchasing an additional 11,254 shares during the period. SG Americas Securities LLC purchased a new position in James River Group during the 3rd quarter worth $69,000. AQR Capital Management LLC increased its stake in James River Group by 2,512.5% in the second quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock valued at $10,644,000 after purchasing an additional 1,324,309 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of James River Group by 72.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 40,843 shares of the insurance provider’s stock valued at $316,000 after buying an additional 17,187 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

James River Group Price Performance

Shares of JRVR opened at $4.96 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $6.47 and its two-hundred day moving average is $7.32. James River Group Holdings, Ltd. has a twelve month low of $4.80 and a twelve month high of $11.49. The firm has a market capitalization of $187.64 million, a PE ratio of -1.98 and a beta of 0.17.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings results on Monday, November 11th. The insurance provider reported ($0.74) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.89). James River Group had a negative net margin of 12.79% and a positive return on equity of 11.66%. The business had revenue of $191.50 million during the quarter, compared to analyst estimates of $137.28 million. During the same period in the prior year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. Research analysts anticipate that James River Group Holdings, Ltd. will post 1.85 earnings per share for the current year.

James River Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.03%. James River Group’s dividend payout ratio (DPR) is presently -8.00%.

Analyst Ratings Changes

JRVR has been the topic of a number of research reports. Truist Financial lowered their price target on James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Compass Point dropped their target price on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, JMP Securities cut their price target on James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.