Rhumbline Advisers Sells 7,199 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

Rhumbline Advisers trimmed its position in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 11.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 56,613 shares of the insurance provider’s stock after selling 7,199 shares during the quarter. Rhumbline Advisers’ holdings in James River Group were worth $438,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of James River Group by 53.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 37,189 shares of the insurance provider’s stock valued at $287,000 after acquiring an additional 12,942 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in James River Group in the 2nd quarter valued at $170,000. Simplicity Wealth LLC bought a new stake in James River Group during the 2nd quarter valued at $93,000. CWM LLC raised its holdings in James River Group by 1,902.6% during the second quarter. CWM LLC now owns 27,636 shares of the insurance provider’s stock worth $214,000 after buying an additional 26,256 shares during the last quarter. Finally, Levin Capital Strategies L.P. bought a new position in shares of James River Group in the first quarter valued at $93,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JRVR. JMP Securities decreased their target price on shares of 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. Compass Point decreased 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. Finally, Truist Financial lowered 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. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, James River Group has an average rating of “Hold” and an average target price of $11.17.

James River Group Trading Up 1.3 %

Shares of JRVR stock opened at $6.34 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $239.82 million, a price-to-earnings ratio of -3.03 and a beta of 0.17. James River Group Holdings, Ltd. has a 52-week low of $6.14 and a 52-week high of $15.76. The company has a 50-day simple moving average of $7.28 and a two-hundred day simple moving average of $7.83.

James River Group (NASDAQ:JRVR) last released its earnings results 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 business had revenue of $188.30 million during the quarter, compared to the consensus estimate of $169.39 million. James River Group had a negative net margin of 12.79% and a positive return on equity of 11.66%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 earnings per share. Research analysts anticipate that James River Group Holdings, Ltd. will post 1.85 EPS for the current fiscal year.

James River Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 3.15%. James River Group’s dividend payout ratio (DPR) is currently -9.57%.

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.