Public Employees Retirement System of Ohio Takes $320,000 Position in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Public Employees Retirement System of Ohio bought a new position in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 50,960 shares of the insurance provider’s stock, valued at approximately $320,000. Public Employees Retirement System of Ohio owned 0.13% of James River Group as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in JRVR. SG Americas Securities LLC acquired a new position in shares of James River Group in the third quarter worth $69,000. Sei Investments Co. acquired a new position in James River Group during the 2nd quarter worth $83,000. Quantinno Capital Management LP acquired a new position in James River Group during the 3rd quarter worth $122,000. Wealth Enhancement Advisory Services LLC purchased a new stake in James River Group during the 3rd quarter worth about $157,000. Finally, BBR Partners LLC acquired a new stake in James River Group in the 3rd quarter valued at about $219,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

James River Group Stock Up 1.3 %

JRVR opened at $4.61 on Friday. The stock has a market capitalization of $174.39 million, a P/E ratio of -1.14 and a beta of 0.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. James River Group Holdings, Ltd. has a one year low of $4.35 and a one year high of $11.49. The business’s 50-day simple moving average is $5.43 and its 200-day simple moving average is $6.65.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings data on Monday, November 11th. The insurance provider reported ($0.74) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.89). The firm had revenue of $191.50 million during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.48 earnings per share. Analysts anticipate that James River Group Holdings, Ltd. will post -0.35 EPS for the current year.

James River Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.87%. James River Group’s dividend payout ratio is presently -0.99%.

Analyst Ratings Changes

Separately, 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

James River Group Company 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.