Connor Clark & Lunn Investment Management Ltd. Cuts Stake in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 49.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 67,532 shares of the insurance provider’s stock after selling 65,840 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in James River Group were worth $329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. RBF Capital LLC boosted its holdings in James River Group by 4.2% in the third quarter. RBF Capital LLC now owns 1,073,828 shares of the insurance provider’s stock valued at $6,733,000 after purchasing an additional 42,946 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of James River Group by 1.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 195,791 shares of the insurance provider’s stock valued at $1,228,000 after buying an additional 3,433 shares during the period. Perpetual Ltd boosted its stake in shares of James River Group by 7.2% in the 4th quarter. Perpetual Ltd now owns 150,135 shares of the insurance provider’s stock valued at $731,000 after buying an additional 10,135 shares during the period. Empowered Funds LLC grew its position in shares of James River Group by 4.9% during the fourth quarter. Empowered Funds LLC now owns 118,194 shares of the insurance provider’s stock worth $576,000 after buying an additional 5,553 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of James River Group by 39.5% during the third quarter. Jane Street Group LLC now owns 90,838 shares of the insurance provider’s stock worth $570,000 after buying an additional 25,738 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

JRVR has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of James River Group from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Keefe, Bruyette & Woods lowered their target price on shares of James River Group from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, March 13th. Citigroup restated a “hold” rating on shares of James River Group in a research note on Tuesday, March 11th. JMP Securities lowered their price objective on James River Group from $11.00 to $8.00 and set a “market outperform” rating for the company in a research report on Friday, December 20th. Finally, Compass Point cut their target price on James River Group from $7.75 to $6.25 and set a “buy” rating on the stock in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.06.

James River Group Price Performance

Shares of NASDAQ:JRVR opened at $3.98 on Monday. James River Group Holdings, Ltd. has a 12 month low of $3.00 and a 12 month high of $9.56. The firm has a market capitalization of $181.66 million, a P/E ratio of -0.98 and a beta of 0.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.65. The company’s fifty day moving average price is $4.56 and its 200 day moving average price is $5.25.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, March 3rd. The insurance provider reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.66). The firm had revenue of $126.71 million during the quarter, compared to analysts’ expectations of $159.91 million. James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. During the same period in the previous year, the firm posted $0.33 earnings per share. As a group, sell-side analysts predict that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Monday, March 10th. James River Group’s payout ratio is currently -1.38%.

About James River Group

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.