Empowered Funds LLC Raises Stock Holdings in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Empowered Funds LLC raised its stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 112,641 shares of the insurance provider’s stock after purchasing an additional 5,628 shares during the period. Empowered Funds LLC owned 0.30% of James River Group worth $706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its holdings in shares of James River Group by 36.0% during the third quarter. Los Angeles Capital Management LLC now owns 41,976 shares of the insurance provider’s stock valued at $263,000 after purchasing an additional 11,106 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of James River Group in the third quarter worth about $157,000. Perpetual Ltd grew its position in James River Group by 33.3% during the 3rd quarter. Perpetual Ltd now owns 140,000 shares of the insurance provider’s stock worth $878,000 after purchasing an additional 35,000 shares in the last quarter. CWM LLC grew its holdings in shares of James River Group by 40.7% during the third quarter. CWM LLC now owns 38,890 shares of the insurance provider’s stock valued at $244,000 after buying an additional 11,254 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of James River Group in the 3rd quarter valued at about $69,000. 95.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. 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. Truist Financial lowered their price target 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. Finally, Compass Point reduced their price objective 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.00.

James River Group Stock Performance

Shares of JRVR opened at $4.45 on Friday. The company has a market cap of $168.34 million, a PE ratio of -1.10 and a beta of 0.17. The firm has a 50-day moving average of $6.14 and a 200-day moving average of $7.10. James River Group Holdings, Ltd. has a one year low of $4.37 and a one year high of $11.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.65.

James River Group (NASDAQ:JRVR) last released its quarterly earnings data on Monday, November 11th. The insurance provider reported ($0.74) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.89). James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The company had revenue of $191.50 million during the quarter, compared to analyst estimates of $137.28 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. James River Group’s revenue for the quarter was down 8.9% on a year-over-year basis. As a group, equities analysts forecast that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current year.

James River Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.90%. James River Group’s payout ratio is -4.94%.

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.