Los Angeles Capital Management LLC Sells 9,960 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

Los Angeles Capital Management LLC lowered its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 24.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,870 shares of the insurance provider’s stock after selling 9,960 shares during the period. Los Angeles Capital Management LLC owned approximately 0.08% of James River Group worth $239,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of JRVR. Levin Capital Strategies L.P. bought a new stake in James River Group during the first quarter worth about $93,000. Simplicity Wealth LLC bought a new stake in James River Group during the second quarter worth about $93,000. Pallas Capital Advisors LLC bought a new position in shares of James River Group in the second quarter worth approximately $170,000. Quadrature Capital Ltd bought a new position in shares of James River Group in the first quarter worth approximately $172,000. Finally, CWM LLC lifted its stake in shares of James River Group by 1,902.6% in the second quarter. CWM LLC now owns 27,636 shares of the insurance provider’s stock worth $214,000 after buying an additional 26,256 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

JRVR has been the topic of several analyst reports. Compass Point dropped their target price on shares of James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JMP Securities dropped their target price on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 6th. Finally, Truist Financial dropped their target price on shares of James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, James River Group presently has an average rating of “Hold” and a consensus price target of $11.17.

James River Group Stock Up 6.7 %

Shares of James River Group stock opened at $6.81 on Monday. The company has a market cap of $257.62 million, a price-to-earnings ratio of -3.26 and a beta of 0.17. The company’s 50 day moving average is $7.53 and its 200 day moving average is $8.01. James River Group Holdings, Ltd. has a twelve month low of $6.14 and a twelve month high of $15.88. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.37.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Monday, August 5th. The insurance provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). James River Group had a negative net margin of 12.79% and a positive return on equity of 11.66%. The company had revenue of $188.30 million for the quarter, compared to the consensus estimate of $169.39 million. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Research analysts anticipate that James River Group Holdings, Ltd. will post 1.85 EPS for the current year.

James River Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 2.94%. James River Group’s dividend payout ratio is currently -9.57%.

James River Group 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.