Redwood Investments LLC boosted its position in James River Group Holdings Ltd. (NASDAQ:JRVR) by 20.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,072 shares of the company’s stock after buying an additional 26,833 shares during the period. Redwood Investments LLC’s holdings in James River Group Holdings were worth $5,470,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in JRVR. Capital One National Association purchased a new stake in James River Group Holdings during the second quarter worth approximately $481,000. UBS Group AG increased its stake in James River Group Holdings by 31.2% in the first quarter. UBS Group AG now owns 17,202 shares of the company’s stock worth $555,000 after buying an additional 4,086 shares during the period. Strs Ohio increased its stake in James River Group Holdings by 3.0% in the second quarter. Strs Ohio now owns 20,300 shares of the company’s stock worth $689,000 after buying an additional 600 shares during the period. Hancock Holding Co. increased its stake in James River Group Holdings by 3.3% in the first quarter. Hancock Holding Co. now owns 26,096 shares of the company’s stock worth $842,000 after buying an additional 831 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in James River Group Holdings by 922.4% in the first quarter. Panagora Asset Management Inc. now owns 109,096 shares of the company’s stock worth $3,519,000 after buying an additional 98,425 shares during the period. 95.77% of the stock is owned by hedge funds and other institutional investors.
Shares of James River Group Holdings Ltd. (NASDAQ:JRVR) traded up 1.22% on Tuesday, reaching $36.65. The company’s stock had a trading volume of 83,980 shares. The stock has a 50-day moving average price of $35.90 and a 200-day moving average price of $33.81. James River Group Holdings Ltd. has a 1-year low of $25.86 and a 1-year high of $38.31. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 18.44 and a beta of 0.58.
James River Group Holdings (NASDAQ:JRVR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. James River Group Holdings had a return on equity of 9.00% and a net margin of 11.27%. The business had revenue of $134.51 million for the quarter, compared to the consensus estimate of $146.28 million. During the same quarter in the prior year, the business posted $0.42 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts forecast that James River Group Holdings Ltd. will post $2.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 12th were issued a $0.20 dividend. The ex-dividend date was Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.18%. James River Group Holdings’s payout ratio is currently 40.20%.
A number of equities research analysts recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 target price (up previously from $38.00) on shares of James River Group Holdings in a report on Tuesday, July 12th. Keefe, Bruyette & Woods lifted their target price on James River Group Holdings from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Zacks Investment Research raised James River Group Holdings from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Saturday, August 6th. Finally, FBR & Co boosted their price target on James River Group Holdings from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $39.00.
In other news, CEO Steven J. Hartman sold 10,000 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $35.22, for a total value of $352,200.00. Following the transaction, the chief executive officer now owns 34,453 shares in the company, valued at approximately $1,213,434.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.20% of the stock is owned by insiders.
About James River Group Holdings
James River Group Holdings, Ltd. is an insurance holding company. The Company owns and operates a group of specialty insurance and reinsurance companies. 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 excess and surplus commercial lines liability and property insurance.
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