Renaissance Technologies LLC Purchases Shares of 84,758 James River Group Holdings, Ltd. (NASDAQ:JRVR)

Renaissance Technologies LLC purchased a new stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 84,758 shares of the insurance provider’s stock, valued at approximately $655,000. Renaissance Technologies LLC owned about 0.22% of James River Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Levin Capital Strategies L.P. bought a new position in James River Group during the first quarter valued at about $93,000. Simplicity Wealth LLC bought a new stake in shares of James River Group during the second quarter valued at approximately $93,000. Quadrature Capital Ltd acquired a new position in shares of James River Group in the first quarter valued at $172,000. Pallas Capital Advisors LLC bought a new position in James River Group in the second quarter worth $170,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in James River Group by 24,641.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,247 shares of the insurance provider’s stock worth $225,000 after buying an additional 24,149 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

James River Group Stock Down 2.4 %

JRVR stock opened at $6.19 on Wednesday. James River Group Holdings, Ltd. has a fifty-two week low of $6.12 and a fifty-two week high of $15.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $234.14 million, a price-to-earnings ratio of -2.96 and a beta of 0.16. The business’s fifty day moving average price is $6.97 and its two-hundred day moving average price is $7.75.

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 the consensus estimate of $0.42 by ($0.09). James River Group had a positive return on equity of 11.66% and a negative net margin of 12.79%. The firm had revenue of $188.30 million for the quarter, compared to the consensus estimate of $169.39 million. During the same period in the prior year, the company earned $0.53 EPS. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities analysts anticipate that James River Group Holdings, Ltd. will post 1.85 earnings per share for the current year.

James River Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.20 annualized dividend and a yield of 3.23%. James River Group’s dividend payout ratio is presently -9.57%.

Analysts Set New Price Targets

JRVR has been the topic of several analyst reports. JMP Securities lowered their price objective on 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. Truist Financial dropped their price objective on James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, Compass Point cut their price objective on James River Group from $12.50 to $12.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, James River Group has a consensus rating of “Hold” and an average price target 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.