The Manufacturers Life Insurance Company Sells 2,375 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

The Manufacturers Life Insurance Company lowered its position in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 15.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,553 shares of the insurance provider’s stock after selling 2,375 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in James River Group were worth $97,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sei Investments Co. bought a new position in shares of James River Group during the 2nd quarter valued at about $83,000. Simplicity Wealth LLC acquired a new position in shares of James River Group in the second quarter valued at approximately $93,000. Levin Capital Strategies L.P. bought a new stake in shares of James River Group during the first quarter worth $93,000. Pallas Capital Advisors LLC acquired a new stake in shares of James River Group during the second quarter worth $170,000. Finally, Quadrature Capital Ltd bought a new stake in James River Group in the 1st quarter valued at $172,000. Institutional investors own 95.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on JRVR shares. Compass Point dropped their price target on 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 James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, Truist Financial cut their target price on 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, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.17.

James River Group Stock Performance

JRVR opened at $7.17 on Monday. The business’s 50-day simple moving average is $6.80 and its 200 day simple moving average is $7.62. James River Group Holdings, Ltd. has a 52-week low of $6.12 and a 52-week high of $15.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $271.21 million, a PE ratio of -3.43 and a beta of 0.16.

James River Group (NASDAQ:JRVR) last released its quarterly earnings data on Monday, August 5th. The insurance provider reported $0.33 EPS for the quarter, missing the consensus estimate 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 company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. As a group, sell-side analysts expect that James River Group Holdings, Ltd. will post 1.85 earnings per share for the current fiscal year.

James River Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, September 16th. This represents a $0.20 annualized dividend and a dividend yield of 2.79%. James River Group’s dividend payout ratio is presently -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.