State of New Jersey Common Pension Fund D bought a new stake in James River Group Holdings, Ltd. (NASDAQ:JRVR – Get Rating) in the first quarter, Holdings Channel.com reports. The institutional investor bought 93,843 shares of the insurance provider’s stock, valued at approximately $2,322,000.
A number of other institutional investors have also recently added to or reduced their stakes in JRVR. New York State Teachers Retirement System lifted its stake in James River Group by 4.3% in the fourth quarter. New York State Teachers Retirement System now owns 19,560 shares of the insurance provider’s stock valued at $564,000 after acquiring an additional 800 shares during the last quarter. Brown Advisory Inc. acquired a new stake in shares of James River Group in the fourth quarter worth $275,000. Yousif Capital Management LLC acquired a new stake in shares of James River Group in the fourth quarter worth $978,000. New York State Common Retirement Fund lifted its stake in shares of James River Group by 5.1% in the fourth quarter. New York State Common Retirement Fund now owns 42,866 shares of the insurance provider’s stock worth $1,235,000 after buying an additional 2,088 shares during the last quarter. Finally, Duality Advisers LP acquired a new stake in shares of James River Group in the fourth quarter worth $821,000. 98.78% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on JRVR. Barclays reduced their price objective on shares of James River Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. StockNews.com cut shares of James River Group from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.20.
James River Group Price Performance
NASDAQ:JRVR opened at $23.79 on Thursday. The stock has a market cap of $890.94 million, a P/E ratio of -11.66 and a beta of 0.35. James River Group Holdings, Ltd. has a one year low of $19.76 and a one year high of $39.69. The company has a fifty day moving average price of $23.91 and a 200 day moving average price of $24.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.60 and a quick ratio of 0.60.
James River Group (NASDAQ:JRVR – Get Rating) last released its earnings results on Monday, August 1st. The insurance provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $184.81 million during the quarter, compared to analysts’ expectations of $200.07 million. James River Group had a negative net margin of 9.55% and a negative return on equity of 8.16%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. Analysts anticipate that James River Group Holdings, Ltd. will post 1.9 earnings per share for the current year.
James River Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 12th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, September 9th. James River Group’s dividend payout ratio (DPR) is presently -9.80%.
About James River Group
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
Receive News & Ratings for James River Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for James River Group and related companies with MarketBeat.com’s FREE daily email newsletter.