James River Group Holdings, Ltd. (NASDAQ:JRVR) Shares Sold by State Street Corp

State Street Corp decreased its holdings in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 4.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 718,468 shares of the insurance provider’s stock after selling 36,770 shares during the quarter. State Street Corp’s holdings in James River Group were worth $4,505,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JRVR. Quantinno Capital Management LP acquired a new stake in shares of James River Group in the 3rd quarter worth approximately $122,000. RBF Capital LLC raised its holdings in James River Group by 4.2% during the third quarter. RBF Capital LLC now owns 1,073,828 shares of the insurance provider’s stock worth $6,733,000 after purchasing an additional 42,946 shares in the last quarter. BBR Partners LLC acquired a new stake in James River Group in the third quarter worth approximately $219,000. Thompson Siegel & Walmsley LLC boosted its stake in James River Group by 33.3% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 140,000 shares of the insurance provider’s stock valued at $878,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in James River Group by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 112,641 shares of the insurance provider’s stock valued at $706,000 after purchasing an additional 5,628 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

James River Group Price Performance

NASDAQ JRVR opened at $4.84 on Monday. The business’s fifty day moving average is $5.23 and its two-hundred day moving average is $6.54. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $183.10 million, a P/E ratio of -1.20 and a beta of 0.09. James River Group Holdings, Ltd. has a 1 year low of $4.35 and a 1 year high of $11.49.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings results on Monday, November 11th. The insurance provider reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.89). The business had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $137.28 million. James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, research analysts forecast that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current fiscal year.

James River Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.01 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.83%. James River Group’s payout ratio is -4.94%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities cut their price objective on James River Group from $11.00 to $8.00 and set a “market outperform” rating for the company in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, James River Group presently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

James River Group Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.