The Manufacturers Life Insurance Company increased its holdings in shares of James River Group Holdings Ltd (NASDAQ:JRVR) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 359,942 shares of the insurance provider’s stock after buying an additional 4,906 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in James River Group were worth $14,401,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JRVR. SG Americas Securities LLC lifted its position in James River Group by 68.8% during the third quarter. SG Americas Securities LLC now owns 5,262 shares of the insurance provider’s stock worth $218,000 after buying an additional 2,144 shares during the period. Voya Investment Management LLC lifted its position in James River Group by 42.1% during the second quarter. Voya Investment Management LLC now owns 7,514 shares of the insurance provider’s stock worth $299,000 after buying an additional 2,228 shares during the period. Teacher Retirement System of Texas purchased a new position in James River Group during the fourth quarter worth about $346,000. American International Group Inc. lifted its position in James River Group by 32.0% during the third quarter. American International Group Inc. now owns 14,757 shares of the insurance provider’s stock worth $612,000 after buying an additional 3,576 shares during the period. Finally, Royal Bank of Canada lifted its position in James River Group by 18.9% during the second quarter. Royal Bank of Canada now owns 17,672 shares of the insurance provider’s stock worth $702,000 after buying an additional 2,806 shares during the period.
Several equities analysts recently weighed in on JRVR shares. B. Riley reiterated a “buy” rating and set a $47.00 target price on shares of James River Group in a research report on Tuesday, November 14th. BidaskClub upgraded James River Group from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Zacks Investment Research lowered James River Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, SunTrust Banks dropped their price target on James River Group to $44.00 and set a “buy” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $43.00.
James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.58). The firm had revenue of $217.96 million for the quarter, compared to analyst estimates of $208.56 million. James River Group had a return on equity of 6.62% and a net margin of 5.33%. The business’s revenue was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. sell-side analysts anticipate that James River Group Holdings Ltd will post 2.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Monday, March 12th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, March 9th. This represents a $1.20 annualized dividend and a yield of 3.54%. James River Group’s dividend payout ratio is presently 222.22%.
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James River Group Company 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.
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