Nuveen Asset Management LLC Sells 313,843 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

Nuveen Asset Management LLC cut its position in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 74.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,381 shares of the insurance provider’s stock after selling 313,843 shares during the quarter. Nuveen Asset Management LLC owned about 0.29% of James River Group worth $528,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Aquatic Capital Management LLC bought a new stake in James River Group in the 4th quarter valued at $41,000. Quantbot Technologies LP increased its stake in James River Group by 24.8% in the fourth quarter. Quantbot Technologies LP now owns 12,556 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 2,498 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of James River Group during the 4th quarter worth $68,000. SG Americas Securities LLC lifted its holdings in shares of James River Group by 41.6% in the fourth quarter. SG Americas Securities LLC now owns 15,616 shares of the insurance provider’s stock worth $76,000 after acquiring an additional 4,586 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of James River Group during the fourth quarter worth $84,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

James River Group Stock Up 3.4%

Shares of JRVR opened at $5.86 on Friday. James River Group Holdings, Ltd. has a 1 year low of $3.00 and a 1 year high of $8.99. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a 50 day simple moving average of $4.78 and a two-hundred day simple moving average of $4.65. The firm has a market cap of $268.93 million, a P/E ratio of -1.45 and a beta of 0.02.

James River Group (NASDAQ:JRVR) last released its quarterly earnings results on Monday, May 5th. The insurance provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.05). The company had revenue of $172.29 million during the quarter, compared to the consensus estimate of $184.15 million. James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. On average, analysts forecast that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.01 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.68%. James River Group’s dividend payout ratio is currently -1.29%.

Insiders Place Their Bets

In related news, Director Christine Lasala bought 29,125 shares of the business’s stock in a transaction on Monday, May 19th. The stock was acquired at an average price of $5.23 per share, with a total value of $152,323.75. Following the transaction, the director now owns 60,758 shares in the company, valued at approximately $317,764.34. This trade represents a 92.07% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter B. Migliorato bought 18,500 shares of the stock in a transaction on Tuesday, May 20th. The stock was purchased at an average cost of $5.46 per share, for a total transaction of $101,010.00. Following the acquisition, the director now owns 39,201 shares of the company’s stock, valued at $214,037.46. This trade represents a 89.37% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 64,625 shares of company stock valued at $353,124. Insiders own 16.50% of the company’s stock.

Analyst Ratings Changes

JRVR has been the subject of a number of research reports. Wall Street Zen lowered shares of James River Group from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Compass Point dropped their price objective on shares of James River Group from $7.75 to $6.25 and set a “buy” rating on the stock in a report on Monday, March 10th. JMP Securities restated a “market outperform” rating and set a $8.00 price target on shares of James River Group in a research note on Tuesday, May 6th. Truist Financial dropped their target price on James River Group from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of James River Group from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.06.

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.