Aigen Investment Management LP Sells 15,269 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

Aigen Investment Management LP trimmed its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 49.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,649 shares of the insurance provider’s stock after selling 15,269 shares during the quarter. Aigen Investment Management LP’s holdings in James River Group were worth $98,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AQR Capital Management LLC increased its stake in shares of James River Group by 2,512.5% during 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 buying an additional 1,324,309 shares during the period. Vanguard Group Inc. increased its stake in shares of James River Group by 22.9% during the first quarter. Vanguard Group Inc. now owns 2,579,287 shares of the insurance provider’s stock valued at $23,987,000 after buying an additional 479,823 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of James River Group by 143.4% during 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 period. Marshall Wace LLP increased its stake 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 valued at $3,633,000 after buying an additional 132,300 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of James River Group by 232.2% during 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 during the period. 95.21% of the stock is currently owned by institutional investors.

James River Group Price Performance

JRVR opened at $4.63 on Monday. The business’s 50-day moving average is $6.34 and its two-hundred day moving average is $7.23. James River Group Holdings, Ltd. has a 1 year low of $4.47 and a 1 year high of $11.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.64. The firm has a market capitalization of $175.15 million, a PE ratio of -1.14 and a beta of 0.17.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, November 11th. The insurance provider reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.89). James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The company had revenue of $191.50 million during the quarter, compared to analysts’ expectations of $137.28 million. During the same quarter last year, the firm earned $0.48 EPS. James River Group’s revenue for the quarter was down 8.9% on a year-over-year basis. Research analysts anticipate that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current fiscal year.

James River Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, December 16th. James River Group’s dividend payout ratio is presently -0.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Truist Financial cut their price target on 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. Compass Point cut their price target on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, JMP Securities cut their target price on James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, James River Group has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.