Swiss National Bank raised its holdings in shares of James River Group Holdings Ltd (NASDAQ:JRVR) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,099 shares of the insurance provider’s stock after purchasing an additional 5,000 shares during the period. Swiss National Bank owned 0.14% of James River Group worth $1,684,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of JRVR. Principal Financial Group Inc. increased its position in shares of James River Group by 5,366.2% during the third quarter. Principal Financial Group Inc. now owns 722,473 shares of the insurance provider’s stock worth $29,968,000 after purchasing an additional 709,256 shares in the last quarter. Monarch Partners Asset Management LLC increased its position in shares of James River Group by 189.7% in the 4th quarter. Monarch Partners Asset Management LLC now owns 519,149 shares of the insurance provider’s stock valued at $20,771,000 after acquiring an additional 339,965 shares during the period. Dimensional Fund Advisors LP increased its position in shares of James River Group by 44.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 481,318 shares of the insurance provider’s stock valued at $19,966,000 after acquiring an additional 148,301 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in shares of James River Group in the 3rd quarter valued at $5,510,000. Finally, State Street Corp increased its position in shares of James River Group by 24.0% in the 2nd quarter. State Street Corp now owns 362,607 shares of the insurance provider’s stock valued at $14,409,000 after acquiring an additional 70,115 shares during the period. 96.36% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. B. Riley downgraded James River Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $47.00 to $39.00 in a research report on Thursday, January 4th. BidaskClub downgraded James River Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised James River Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, SunTrust Banks cut their target price on James River Group to $44.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. James River Group has a consensus rating of “Hold” and a consensus target price of $43.00.
James River Group (NASDAQ:JRVR) last released its earnings results on Thursday, February 22nd. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.58). The firm had revenue of $217.96 million during the quarter, compared to analyst estimates of $208.56 million. James River Group had a net margin of 5.33% and a return on equity of 6.67%. James River Group’s revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share. research analysts predict that James River Group Holdings Ltd will post 2.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Monday, March 12th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, March 9th. James River Group’s dividend payout ratio is currently 83.33%.
In related news, Director Janet Raye Cowell purchased 1,206 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were bought at an average cost of $33.16 per share, with a total value of $39,990.96. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 41.00% of the stock is currently owned by company insiders.
About James River Group
James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.
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