Donald Smith & CO. Inc. Invests $10.74 Million in James River Group Holdings, Ltd. $JRVR

Donald Smith & CO. Inc. bought a new stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,440,347 shares of the insurance provider’s stock, valued at approximately $10,738,000. Donald Smith & CO. Inc. owned 0.05% of James River Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Versant Capital Management Inc increased its holdings in James River Group by 176.0% in the 2nd quarter. Versant Capital Management Inc now owns 6,179 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 3,940 shares in the last quarter. Clearstead Advisors LLC lifted its stake in shares of James River Group by 173.9% during the fourth quarter. Clearstead Advisors LLC now owns 7,732 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 4,909 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of James River Group in the fourth quarter worth about $65,000. Cerity Partners LLC purchased a new stake in shares of James River Group in the second quarter worth about $61,000. Finally, PharVision Advisers LLC acquired a new stake in shares of James River Group in the third quarter valued at about $59,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on JRVR. Weiss Ratings upgraded James River Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. UBS Group lowered their price objective on shares of James River Group from $4.75 to $4.00 and set a “neutral” rating for the company in a research report on Monday. Truist Financial dropped their price objective on shares of James River Group from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, August 12th. Citizens Jmp reiterated a “market perform” rating on shares of James River Group in a research note on Tuesday, May 5th. Finally, Wall Street Zen raised shares of James River Group from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $5.75.

James River Group Stock Up 0.5%

Shares of James River Group stock opened at $4.05 on Friday. The business has a 50-day moving average of $4.39 and a 200-day moving average of $5.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $187.27 million, a PE ratio of 10.66 and a beta of -0.20. James River Group Holdings, Ltd. has a 1-year low of $3.76 and a 1-year high of $7.20.

James River Group (NASDAQ:JRVR) last announced its earnings results on Tuesday, August 11th. The insurance provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). James River Group had a return on equity of 9.93% and a net margin of 4.68%.The business had revenue of $161.34 million for the quarter, compared to analysts’ expectations of $135.50 million. As a group, equities analysts forecast that James River Group Holdings, Ltd. will post 0.65 EPS for the current fiscal year.

James River Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.04 annualized dividend and a yield of 1.0%. James River Group’s payout ratio is currently 10.53%.

James River Group 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.