Los Angeles Capital Management LLC Buys 11,106 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

Los Angeles Capital Management LLC boosted its position in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 36.0% during the third quarter, Holdings Channel reports. The fund owned 41,976 shares of the insurance provider’s stock after acquiring an additional 11,106 shares during the period. Los Angeles Capital Management LLC’s holdings in James River Group were worth $263,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in shares of James River Group by 291.1% in the 1st quarter. Russell Investments Group Ltd. now owns 75,170 shares of the insurance provider’s stock worth $699,000 after purchasing an additional 55,951 shares in the last quarter. Vanguard Group Inc. raised 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 worth $23,987,000 after acquiring an additional 479,823 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of James River Group in the 1st quarter worth approximately $172,000. Price T Rowe Associates Inc. MD boosted its stake in shares of James River Group by 32.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,989 shares of the insurance provider’s stock valued at $355,000 after purchasing an additional 9,414 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings 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 valued at $4,771,000 after purchasing an additional 302,257 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on JRVR shares. JMP Securities cut their price target 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. Truist Financial dropped their target price on James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Compass Point lowered their price objective on James River Group from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

James River Group Trading Down 2.8 %

JRVR opened at $4.50 on Tuesday. James River Group Holdings, Ltd. has a one year low of $4.41 and a one 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 business has a 50 day simple moving average of $6.30 and a two-hundred day simple moving average of $7.20. The firm has a market capitalization of $170.23 million, a price-to-earnings ratio of -1.11 and a beta of 0.17.

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

James River Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, December 16th. James River Group’s payout ratio is -0.99%.

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.