SG Americas Securities LLC Buys Shares of 11,030 James River Group Holdings, Ltd. (NASDAQ:JRVR)

SG Americas Securities LLC purchased a new position in James River Group Holdings, Ltd. (NASDAQ:JRVR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,030 shares of the insurance provider’s stock, valued at approximately $69,000.

Other hedge funds have also modified their holdings of the company. Sei Investments Co. purchased a new position in James River Group in the second quarter valued at about $83,000. Simplicity Wealth LLC acquired a new position in James River Group in the second quarter worth approximately $93,000. Levin Capital Strategies L.P. acquired a new position in James River Group in the first quarter worth approximately $93,000. Pallas Capital Advisors LLC bought a new position in James River Group during the second quarter valued at approximately $170,000. Finally, Quadrature Capital Ltd acquired a new stake in James River Group in the first quarter valued at approximately $172,000. 95.21% of the stock is owned by institutional investors and hedge funds.

James River Group Stock Performance

NASDAQ:JRVR opened at $6.37 on Tuesday. The firm has a market capitalization of $240.95 million, a PE ratio of -3.05 and a beta of 0.16. James River Group Holdings, Ltd. has a 1 year low of $6.12 and a 1 year high of $15.02. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $6.71 and its 200 day simple moving average is $7.53.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings results on Monday, August 5th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $188.30 million during the quarter, compared to analyst estimates of $169.39 million. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that James River Group Holdings, Ltd. will post 1.85 EPS for the current year.

James River Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Monday, September 16th. James River Group’s dividend payout ratio is currently -9.57%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Truist Financial dropped their price target 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. Compass Point lowered 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 report on Wednesday, August 7th. Finally, JMP Securities reduced their price target on James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.17.

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.