State Street Corp Cuts Position in James River Group Holdings, Ltd. (NASDAQ:JRVR)

State Street Corp lowered its position in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 718,468 shares of the insurance provider’s stock after selling 36,770 shares during the period. State Street Corp owned approximately 1.90% of James River Group worth $4,505,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of James River Group in the third quarter worth $69,000. Sei Investments Co. acquired a new stake in James River Group during the 2nd quarter worth approximately $83,000. Quantinno Capital Management LP purchased a new position in James River Group in the third quarter valued at approximately $122,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of James River Group in the 3rd quarter valued at $157,000. Finally, BBR Partners LLC acquired a new position in shares of James River Group during the third quarter worth about $219,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

James River Group Stock Performance

Shares of JRVR stock opened at $4.84 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $183.10 million, a price-to-earnings ratio of -1.20 and a beta of 0.09. James River Group Holdings, Ltd. has a one year low of $4.35 and a one year high of $11.49. The company’s 50-day simple moving average is $5.23 and its 200-day simple moving average is $6.54.

James River Group (NASDAQ:JRVR) last issued its 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). The firm had revenue of $191.50 million during the quarter, compared to analyst estimates of $137.28 million. James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. James River Group’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. Equities analysts anticipate that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current fiscal year.

James River Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.83%. James River Group’s dividend payout ratio (DPR) is -4.94%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reduced their target price on shares of James River Group from $11.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.40.

James River Group Company Profile

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.