Flax Pond Capital LLC Invests $3.43 Million in James River Group Holdings, Ltd. $JRVR

Flax Pond Capital LLC bought a new stake in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 538,767 shares of the insurance provider’s stock, valued at approximately $3,427,000. James River Group makes up 2.5% of Flax Pond Capital LLC’s portfolio, making the stock its 17th largest position. Flax Pond Capital LLC owned about 1.17% of James River Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clearstead Advisors LLC lifted its stake in James River Group by 173.9% during the fourth quarter. Clearstead Advisors LLC now owns 7,732 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 4,909 shares during the period. PharVision Advisers LLC bought a new stake in shares of James River Group in the 3rd quarter valued at approximately $59,000. R Squared Ltd bought a new stake in shares of James River Group in the 3rd quarter valued at approximately $60,000. Cerity Partners LLC acquired a new position in shares of James River Group in the 2nd quarter worth approximately $61,000. Finally, M&T Bank Corp acquired a new position in shares of James River Group in the 4th quarter worth approximately $65,000. Institutional investors own 95.21% of the company’s stock.

James River Group Stock Performance

NASDAQ:JRVR opened at $3.95 on Friday. The stock has a market capitalization of $182.64 million, a P/E ratio of 11.62 and a beta of -0.16. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. James River Group Holdings, Ltd. has a 1 year low of $3.76 and a 1 year high of $7.20. The firm has a 50 day moving average of $4.81 and a 200-day moving average of $5.90.

James River Group (NASDAQ:JRVR) last released its quarterly earnings results on Monday, May 4th. The insurance provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). James River Group had a return on equity of 10.79% and a net margin of 4.34%.The business had revenue of $151.38 million for the quarter, compared to the consensus estimate of $155.07 million. As a group, sell-side analysts anticipate that James River Group Holdings, Ltd. will post 0.8 EPS for the current fiscal year.

James River Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 8th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, June 8th. James River Group’s dividend payout ratio is presently 11.76%.

Wall Street Analysts Forecast Growth

JRVR has been the topic of several recent analyst reports. Zacks Research lowered James River Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Citizens Jmp reiterated a “market perform” rating on shares of James River Group in a research note on Tuesday, May 5th. Weiss Ratings cut James River Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Citigroup downgraded shares of James River Group from a “hold” rating to a “market perform” rating in a research note on Tuesday, May 5th. Finally, Truist Financial boosted their target price on shares of James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Tuesday, March 3rd. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $6.44.

James River Group Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.