Rhumbline Advisers Sells 7,199 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

Rhumbline Advisers reduced its stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,613 shares of the insurance provider’s stock after selling 7,199 shares during the period. Rhumbline Advisers owned approximately 0.15% of James River Group worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in JRVR. Levin Capital Strategies L.P. bought a new stake in shares of James River Group in the first quarter valued at approximately $93,000. Simplicity Wealth LLC acquired a new position in James River Group during the second quarter valued at approximately $93,000. Pallas Capital Advisors LLC acquired a new position in James River Group during the second quarter valued at approximately $170,000. Quadrature Capital Ltd acquired a new position in James River Group during the first quarter valued at approximately $172,000. Finally, CWM LLC raised its position in James River Group by 1,902.6% during the second quarter. CWM LLC now owns 27,636 shares of the insurance provider’s stock valued at $214,000 after purchasing an additional 26,256 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

James River Group Stock Up 1.3 %

Shares of NASDAQ:JRVR opened at $6.34 on Friday. The company has a fifty day moving average of $7.28 and a 200-day moving average of $7.83. The company has a market capitalization of $239.82 million, a PE ratio of -3.03 and a beta of 0.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.64 and a current ratio of 0.64. James River Group Holdings, Ltd. has a 52-week low of $6.14 and a 52-week high of $15.76.

James River Group (NASDAQ:JRVR) last posted 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). The company had revenue of $188.30 million during the quarter, compared to analyst estimates of $169.39 million. James River Group had a negative net margin of 12.79% and a positive return on equity of 11.66%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. On average, equities analysts predict that James River Group Holdings, Ltd. will post 1.85 EPS for the current fiscal year.

James River Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 3.15%. James River Group’s payout ratio is -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.