Russell Investments Group Ltd. Cuts Stake in James River Group Holdings, Ltd. $JRVR

Russell Investments Group Ltd. reduced its stake in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 19.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,285 shares of the insurance provider’s stock after selling 7,867 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of James River Group worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in James River Group during the 1st quarter valued at approximately $455,000. Deutsche Bank AG purchased a new stake in James River Group during the 1st quarter valued at approximately $25,000. Bank of New York Mellon Corp grew its holdings in James River Group by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 98,867 shares of the insurance provider’s stock valued at $415,000 after buying an additional 6,206 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in James River Group during the 1st quarter valued at approximately $102,000. Finally, Sowell Financial Services LLC purchased a new stake in James River Group during the 1st quarter valued at approximately $55,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JRVR shares. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price objective on shares of James River Group in a report on Tuesday, May 6th. Wall Street Zen raised shares of James River Group from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.06.

James River Group Trading Down 3.7%

JRVR stock opened at $5.41 on Wednesday. The firm has a fifty day moving average price of $5.69 and a 200 day moving average price of $5.09. James River Group Holdings, Ltd. has a fifty-two week low of $3.00 and a fifty-two week high of $7.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $248.43 million, a PE ratio of -1.71 and a beta of 0.03.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, August 4th. The insurance provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. James River Group had a negative net margin of 13.50% and a negative return on equity of 1.97%. The firm had revenue of $152.61 million during the quarter, compared to analyst estimates of $176.46 million. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.01 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.7%. James River Group’s dividend payout ratio (DPR) is currently -1.27%.

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.