The Manufacturers Life Insurance Company Has $97,000 Position in James River Group Holdings, Ltd. (NASDAQ:JRVR)

The Manufacturers Life Insurance Company trimmed its position in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 15.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,553 shares of the insurance provider’s stock after selling 2,375 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in James River Group were worth $97,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in JRVR. AQR Capital Management LLC boosted its position in shares of James River Group by 2,512.5% in the second quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock valued at $10,644,000 after acquiring an additional 1,324,309 shares during the period. Vanguard Group Inc. boosted its holdings in 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 valued at $23,987,000 after purchasing an additional 479,823 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of James River Group by 143.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 512,968 shares of the insurance provider’s stock worth $4,771,000 after purchasing an additional 302,257 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of James River Group by 39.2% during the second quarter. Marshall Wace LLP now owns 469,963 shares of the insurance provider’s stock worth $3,633,000 after purchasing an additional 132,300 shares during the period. Finally, American Century Companies Inc. raised its position in shares of James River Group by 232.2% in the second quarter. American Century Companies Inc. now owns 171,529 shares of the insurance provider’s stock valued at $1,326,000 after buying an additional 119,901 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

James River Group Price Performance

JRVR stock opened at $7.17 on Monday. James River Group Holdings, Ltd. has a 1 year low of $6.12 and a 1 year high of $15.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $271.21 million, a price-to-earnings ratio of -3.43 and a beta of 0.16. The company has a 50 day simple moving average of $6.80 and a 200 day simple moving average of $7.62.

James River Group (NASDAQ:JRVR) last issued its earnings results on Monday, August 5th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). James River Group had a positive return on equity of 11.66% and a negative net margin of 12.79%. The firm had revenue of $188.30 million during the quarter, compared to analyst estimates of $169.39 million. During the same period in the previous year, the company earned $0.53 EPS. James River Group’s revenue for the quarter was down 3.3% on a year-over-year basis. 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 was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.79%. The ex-dividend date was Monday, September 16th. James River Group’s dividend payout ratio (DPR) is currently -9.57%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Compass Point reduced their price target on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JMP Securities dropped 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 note on Tuesday, August 6th. Finally, Truist Financial reduced their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, James River Group currently has an average rating of “Hold” and a consensus price target of $11.17.

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.