State of Tennessee Treasury Department Decreases Stake in James River Group Holdings Ltd (NASDAQ:JRVR)

State of Tennessee Treasury Department reduced its position in James River Group Holdings Ltd (NASDAQ:JRVR) by 13.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,228 shares of the insurance provider’s stock after selling 3,395 shares during the period. State of Tennessee Treasury Department’s holdings in James River Group were worth $1,139,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of JRVR. BlackRock Inc. lifted its position in shares of James River Group by 3.2% during the second quarter. BlackRock Inc. now owns 4,429,582 shares of the insurance provider’s stock worth $207,749,000 after purchasing an additional 137,561 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of James River Group by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,818,007 shares of the insurance provider’s stock valued at $85,265,000 after purchasing an additional 42,184 shares during the period. Invesco Ltd. increased its stake in shares of James River Group by 668.2% in the second quarter. Invesco Ltd. now owns 817,575 shares of the insurance provider’s stock valued at $38,345,000 after purchasing an additional 711,141 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of James River Group by 0.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 525,409 shares of the insurance provider’s stock valued at $24,642,000 after purchasing an additional 2,630 shares during the period. Finally, Investment Counselors of Maryland LLC increased its stake in shares of James River Group by 0.8% in the second quarter. Investment Counselors of Maryland LLC now owns 522,574 shares of the insurance provider’s stock valued at $24,509,000 after purchasing an additional 4,191 shares during the period. 96.72% of the stock is owned by institutional investors.

A number of analysts recently weighed in on the stock. BidaskClub cut shares of James River Group from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research lowered shares of James River Group from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 12th. B. Riley downgraded shares of James River Group from a “neutral” rating to a “sell” rating and cut their target price for the stock from $45.00 to $40.00 in a research report on Wednesday, October 9th. TheStreet downgraded shares of James River Group from a “b-” rating to a “c” rating in a research report on Wednesday, November 6th. Finally, ValuEngine downgraded shares of James River Group from a “buy” rating to a “hold” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $42.50.

In other James River Group news, CEO J Adam Abram bought 1,585 shares of James River Group stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $35.00 per share, for a total transaction of $55,475.00. Following the completion of the acquisition, the chief executive officer now owns 428,610 shares of the company’s stock, valued at approximately $15,001,350. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.50% of the stock is owned by corporate insiders.

JRVR stock traded down $0.60 during trading on Wednesday, hitting $35.17. 193,600 shares of the stock traded hands, compared to its average volume of 167,471. James River Group Holdings Ltd has a one year low of $34.08 and a one year high of $52.18. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 15.09 and a beta of 0.44. The company has a 50 day simple moving average of $40.68 and a 200 day simple moving average of $45.45. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.13.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings results on Thursday, November 7th. The insurance provider reported ($0.73) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.97) by $0.24. The business had revenue of $231.47 million during the quarter, compared to the consensus estimate of $227.50 million. James River Group had a net margin of 3.69% and a return on equity of 4.86%. As a group, analysts predict that James River Group Holdings Ltd will post 1.08 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, December 13th. James River Group’s dividend payout ratio (DPR) is presently 51.50%.

James River Group Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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

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