Bronte Capital Management Pty Ltd. Raises Position in James River Group Holdings, Ltd. $JRVR

Bronte Capital Management Pty Ltd. boosted its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 174.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 338,961 shares of the insurance provider’s stock after buying an additional 215,386 shares during the period. Bronte Capital Management Pty Ltd. owned approximately 0.74% of James River Group worth $2,135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JRVR. Clearstead Advisors LLC boosted its position in shares of James River Group by 173.9% during the 4th quarter. Clearstead Advisors LLC now owns 7,732 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 4,909 shares during the last quarter. PharVision Advisers LLC bought a new stake in James River Group during the third quarter valued at approximately $59,000. Cerity Partners LLC bought a new stake in James River Group during the second quarter valued at approximately $61,000. M&T Bank Corp bought a new stake in James River Group during the fourth quarter valued at approximately $65,000. Finally, PFG Investments LLC purchased a new position in James River Group in the 4th quarter worth approximately $71,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on JRVR shares. Weiss Ratings cut James River Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Citigroup lowered James River Group from a “hold” rating to a “market perform” rating in a research note on Tuesday, May 5th. UBS Group downgraded shares of James River Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $4.75 in a research note on Tuesday, May 19th. Zacks Research lowered shares of James River Group from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Finally, Citizens Jmp reissued a “market perform” rating on shares of James River Group in a report on Tuesday, May 5th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $6.44.

James River Group Price Performance

JRVR stock opened at $4.46 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a 50 day moving average price of $4.43 and a 200-day moving average price of $5.78. James River Group Holdings, Ltd. has a 52-week low of $3.76 and a 52-week high of $7.20. The firm has a market capitalization of $206.23 million, a price-to-earnings ratio of 13.12 and a beta of -0.19.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings data on Monday, May 4th. The insurance provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). The company had revenue of $151.38 million for the quarter, compared to the consensus estimate of $155.07 million. James River Group had a net margin of 4.34% and a return on equity of 10.79%. Equities research analysts forecast that James River Group Holdings, Ltd. will post 0.8 EPS for the current fiscal year.

James River Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 8th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, June 8th. James River Group’s dividend payout ratio is currently 11.76%.

James River Group Company 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.