Flax Pond Capital LLC Makes New Investment in James River Group Holdings, Ltd. $JRVR

Flax Pond Capital LLC acquired a new stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 538,767 shares of the insurance provider’s stock, valued at approximately $3,427,000. James River Group comprises approximately 2.5% of Flax Pond Capital LLC’s holdings, making the stock its 17th biggest position.

A number of other institutional investors also recently modified their holdings of JRVR. Wealth Enhancement Advisory Services LLC grew its stake in shares of James River Group by 13.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,142 shares of the insurance provider’s stock valued at $93,000 after purchasing an additional 1,772 shares during the last quarter. Cerity Partners LLC raised its position in James River Group by 15.5% in the 4th quarter. Cerity Partners LLC now owns 15,388 shares of the insurance provider’s stock worth $98,000 after purchasing an additional 2,062 shares during the last quarter. Ameriprise Financial Inc. raised its position in James River Group by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 97,492 shares of the insurance provider’s stock worth $571,000 after purchasing an additional 2,357 shares during the last quarter. Jane Street Group LLC lifted its holdings in James River Group by 13.0% during the 1st quarter. Jane Street Group LLC now owns 25,297 shares of the insurance provider’s stock worth $106,000 after buying an additional 2,918 shares in the last quarter. Finally, Barclays PLC lifted its holdings in James River Group by 6.1% during the 4th quarter. Barclays PLC now owns 60,941 shares of the insurance provider’s stock worth $388,000 after buying an additional 3,528 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

James River Group Price Performance

Shares of JRVR stock opened at $3.95 on Friday. James River Group Holdings, Ltd. has a 52-week low of $3.76 and a 52-week high of $7.20. The stock has a market cap of $182.64 million, a PE ratio of 11.62 and a beta of -0.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.64. The firm’s 50 day moving average price is $4.81 and its two-hundred day moving average price is $5.90.

James River Group (NASDAQ:JRVR) last released its earnings results on Monday, May 4th. The insurance provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). The business had revenue of $151.38 million for the quarter, compared to analyst estimates of $155.07 million. James River Group had a return on equity of 10.79% and a net margin of 4.34%. As a group, analysts forecast that James River Group Holdings, Ltd. will post 0.8 EPS for the current year.

James River Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 8th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.0%. James River Group’s payout ratio is 11.76%.

Analyst Upgrades and Downgrades

JRVR has been the subject of several research reports. Truist Financial lifted their target price on James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Tuesday, March 3rd. Citizens Jmp reaffirmed a “market perform” rating on shares of James River Group in a research note on Tuesday, May 5th. Citigroup lowered James River Group from a “hold” rating to a “market perform” rating in a research note on Tuesday, May 5th. UBS Group cut James River Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $8.00 to $4.75 in a report on Tuesday, May 19th. Finally, Wall Street Zen upgraded James River Group from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $6.44.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.