Simplicity Wealth LLC acquired a new position in James River Group Holdings, Ltd. (NASDAQ:JRVR – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,055 shares of the insurance provider’s stock, valued at approximately $51,000.
A number of other large investors have also recently bought and sold shares of the business. Zimmer Partners LP bought a new stake in James River Group in the fourth quarter worth $1,343,000. ProShare Advisors LLC bought a new stake in shares of James River Group during the 4th quarter worth about $51,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in James River Group by 22.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,028 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 3,839 shares during the period. D. E. Shaw & Co. Inc. boosted its position in James River Group by 9.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,111,291 shares of the insurance provider’s stock worth $5,412,000 after purchasing an additional 93,348 shares during the period. Finally, Cantor Fitzgerald L. P. bought a new stake in James River Group during the fourth quarter worth approximately $429,000. 95.21% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms recently issued reports on JRVR. Keefe, Bruyette & Woods decreased 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 report on Thursday, March 13th. Compass Point decreased their price target on shares of James River Group from $7.75 to $6.25 and set a “buy” rating for the company 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 report on Tuesday, May 6th. Wall Street Zen upgraded shares of James River Group from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Finally, Citigroup restated a “hold” rating on shares of James River Group in a research note on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.06.
James River Group Price Performance
Shares of James River Group stock opened at $5.85 on Friday. 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 firm has a fifty day moving average price of $5.00 and a two-hundred day moving average price of $4.71. James River Group Holdings, Ltd. has a fifty-two week low of $3.00 and a fifty-two week high of $8.99. The company has a market cap of $268.47 million, a PE ratio of -1.44 and a beta of 0.08.
James River Group (NASDAQ:JRVR – Get Free Report) last released its 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). James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The company had revenue of $172.29 million during the quarter, compared to the consensus estimate of $184.15 million. Analysts expect that James River Group Holdings, Ltd. will post -0.35 EPS for the current year.
James River Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a $0.01 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.04 annualized dividend and a yield of 0.68%. James River Group’s dividend payout ratio (DPR) is currently -1.29%.
Insider Buying and Selling
In other news, Director Christine Lasala bought 29,125 shares of James River Group stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average cost of $5.23 per share, with a total value of $152,323.75. Following the completion of the transaction, the director now directly owns 60,758 shares in the company, valued at $317,764.34. This trade represents a 92.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter B. Migliorato acquired 18,500 shares of James River Group stock in a transaction dated Tuesday, May 20th. The shares were acquired at an average cost of $5.46 per share, with a total value of $101,010.00. Following the completion of the acquisition, the director now directly owns 39,201 shares in the company, valued at $214,037.46. This trade represents a 89.37% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 64,625 shares of company stock valued at $353,124 over the last ninety days. 16.50% of the stock is owned by company insiders.
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.
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