Goldman Sachs Group Inc. Reduces Stock Position in James River Group Holdings, Ltd. $JRVR

Goldman Sachs Group Inc. cut its stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 18.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 746,976 shares of the insurance provider’s stock after selling 174,051 shares during the period. Goldman Sachs Group Inc. owned approximately 1.63% of James River Group worth $3,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Zimmer Partners LP lifted its holdings in James River Group by 684.4% in the first quarter. Zimmer Partners LP now owns 2,162,484 shares of the insurance provider’s stock valued at $9,082,000 after acquiring an additional 1,886,781 shares during the last quarter. Nuveen LLC acquired a new position in James River Group in the first quarter valued at approximately $455,000. Interval Partners LP acquired a new position in James River Group in the first quarter valued at approximately $275,000. Northern Trust Corp lifted its holdings in James River Group by 16.3% in the fourth quarter. Northern Trust Corp now owns 306,468 shares of the insurance provider’s stock valued at $1,492,000 after acquiring an additional 42,841 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in James River Group in the first quarter valued at approximately $102,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

James River Group Stock Up 0.9%

JRVR opened at $5.42 on Friday. The business’s 50-day simple moving average is $5.62 and its 200-day simple moving average is $5.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.63 and a current ratio of 0.63. James River Group Holdings, Ltd. has a one year low of $3.00 and a one year high of $7.19. The stock has a market capitalization of $248.89 million, a P/E ratio of -1.72 and a beta of 0.03.

James River Group (NASDAQ:JRVR) last released its quarterly earnings results on Monday, August 4th. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. James River Group had a negative return on equity of 1.97% and a negative net margin of 13.50%.The firm had revenue of $152.61 million for the quarter, compared to analyst estimates of $176.46 million. Analysts anticipate that James River Group Holdings, Ltd. will post -0.35 EPS for the current year.

James River Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.01 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.7%. James River Group’s dividend payout ratio is currently -1.27%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded James River Group from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.06.

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.