State Street Corp Acquires 70,115 Shares of James River Group Holdings, Ltd. (JRVR)

State Street Corp raised its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 24.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 362,607 shares of the insurance provider’s stock after acquiring an additional 70,115 shares during the period. State Street Corp owned about 1.23% of James River Group Holdings worth $14,409,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in James River Group Holdings during the second quarter valued at approximately $124,000. Advisor Group Inc. grew its position in James River Group Holdings by 11.0% during the second quarter. Advisor Group Inc. now owns 3,937 shares of the insurance provider’s stock valued at $156,000 after acquiring an additional 391 shares during the last quarter. Legal & General Group Plc grew its position in James River Group Holdings by 21.4% during the second quarter. Legal & General Group Plc now owns 4,248 shares of the insurance provider’s stock valued at $169,000 after acquiring an additional 748 shares during the last quarter. Bank of Montreal Can bought a new position in James River Group Holdings during the second quarter valued at approximately $203,000. Finally, QS Investors LLC bought a new position in James River Group Holdings during the second quarter valued at approximately $236,000. Institutional investors and hedge funds own 94.27% of the company’s stock.

A number of brokerages have commented on JRVR. Zacks Investment Research cut shares of James River Group Holdings from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. JMP Securities initiated coverage on shares of James River Group Holdings in a report on Tuesday, October 17th. They issued an “outperform” rating and a $47.00 target price on the stock. B. Riley restated a “buy” rating on shares of James River Group Holdings in a report on Monday, November 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $42.00 target price on shares of James River Group Holdings in a report on Friday, August 18th. Finally, BidaskClub cut shares of James River Group Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.00.

James River Group Holdings, Ltd. (NASDAQ JRVR) opened at $39.04 on Thursday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1,159.30, a price-to-earnings ratio of 17.80 and a beta of 0.56. James River Group Holdings, Ltd. has a 52-week low of $37.24 and a 52-week high of $46.20.

James River Group Holdings (NASDAQ:JRVR) last announced its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $220.87 million during the quarter, compared to analyst estimates of $198.67 million. James River Group Holdings had a return on equity of 9.36% and a net margin of 8.98%. The company’s revenue for the quarter was up 45.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. equities research analysts forecast that James River Group Holdings, Ltd. will post 2.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $3.20 annualized dividend and a yield of 8.20%. This is a positive change from James River Group Holdings’s previous quarterly dividend of $0.30. James River Group Holdings’s dividend payout ratio (DPR) is currently 52.63%.

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In other news, Chairman J Adam Abram sold 400,000 shares of James River Group Holdings stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $38.10, for a total value of $15,240,000.00. Following the completion of the transaction, the chairman now owns 368,247 shares of the company’s stock, valued at approximately $14,030,210.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven J. Hartman sold 5,264 shares of James River Group Holdings stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $38.91, for a total value of $204,822.24. Following the completion of the transaction, the chief executive officer now directly owns 55,843 shares of the company’s stock, valued at approximately $2,172,851.13. The disclosure for this sale can be found here. Insiders have sold 3,025,000 shares of company stock valued at $115,282,815 in the last three months. Insiders own 41.00% of the company’s stock.

James River Group Holdings Profile

James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.

Institutional Ownership by Quarter for James River Group Holdings (NASDAQ:JRVR)

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