Bank of New York Mellon Corp raised its stake in James River Group Holdings Ltd (NASDAQ:JRVR) by 11.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 319,152 shares of the insurance provider’s stock after purchasing an additional 32,122 shares during the period. Bank of New York Mellon Corp owned 1.07% of James River Group worth $12,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System purchased a new position in James River Group in the second quarter valued at about $201,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in James River Group in the second quarter valued at about $203,000. Teacher Retirement System of Texas purchased a new position in James River Group in the second quarter valued at about $237,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of James River Group during the second quarter worth about $248,000. Finally, Voya Investment Management LLC grew its stake in shares of James River Group by 19.2% during the second quarter. Voya Investment Management LLC now owns 9,544 shares of the insurance provider’s stock worth $375,000 after acquiring an additional 1,536 shares during the last quarter. Institutional investors own 99.77% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded James River Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Zacks Investment Research lowered James River Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. ValuEngine upgraded James River Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, Keefe, Bruyette & Woods restated a “mkt perform” rating on shares of James River Group in a research note on Monday, November 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $41.00.
Shares of JRVR stock opened at $37.97 on Friday. James River Group Holdings Ltd has a fifty-two week low of $32.17 and a fifty-two week high of $43.47. The stock has a market cap of $1.12 billion, a PE ratio of 24.18 and a beta of 0.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.31 and a current ratio of 0.31.
James River Group (NASDAQ:JRVR) last issued its quarterly earnings results on Thursday, November 8th. The insurance provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. James River Group had a return on equity of 8.33% and a net margin of 5.90%. The business had revenue of $224.69 million for the quarter, compared to analyst estimates of $224.90 million. Sell-side analysts predict that James River Group Holdings Ltd will post 2.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.16%. James River Group’s payout ratio is 76.43%.
James River Group Profile
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites property and liability insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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