James River Group Holdings, Ltd. (NASDAQ:JRVR) Sees Large Drop in Short Interest

James River Group Holdings, Ltd. (NASDAQ:JRVR) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 1,100,000 shares, a decline of 6.8% from the September 15th total of 1,180,000 shares. Based on an average daily volume of 291,100 shares, the short-interest ratio is presently 3.8 days. Approximately 3.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

JRVR has been the subject of a number of research analyst reports. Compass Point cut 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. JMP Securities dropped their price objective on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, August 6th. Finally, Truist Financial reduced their target price on James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.17.

James River Group Stock Up 3.4 %

NASDAQ:JRVR opened at $7.03 on Friday. James River Group has a twelve month low of $6.12 and a twelve month high of $15.27. The stock has a fifty day simple moving average of $6.81 and a 200-day simple moving average of $7.65. The company has a market cap of $265.92 million, a price-to-earnings ratio of -3.36 and a beta of 0.16. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data 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). The firm had revenue of $188.30 million during the quarter, compared to the consensus estimate of $169.39 million. James River Group had a positive return on equity of 11.66% and a negative net margin of 12.79%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Analysts anticipate that James River Group will post 1.85 EPS for the current year.

James River Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 2.84%. James River Group’s dividend payout ratio (DPR) is presently -9.57%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of James River Group by 22.9% in the 1st quarter. Vanguard Group Inc. now owns 2,579,287 shares of the insurance provider’s stock worth $23,987,000 after buying an additional 479,823 shares during the last quarter. AQR Capital Management LLC increased its position in James River Group by 2,512.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock valued at $10,644,000 after buying an additional 1,324,309 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in James River Group by 143.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 512,968 shares of the insurance provider’s stock valued at $4,771,000 after buying an additional 302,257 shares during the last quarter. Marshall Wace LLP boosted its holdings in James River Group by 39.2% in the second quarter. Marshall Wace LLP now owns 469,963 shares of the insurance provider’s stock worth $3,633,000 after acquiring an additional 132,300 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of James River Group by 7.9% during the second quarter. Cubist Systematic Strategies LLC now owns 275,519 shares of the insurance provider’s stock worth $2,130,000 after acquiring an additional 20,085 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

James River Group Company 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.