Charles Schwab Investment Management Inc. Cuts Stake in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Charles Schwab Investment Management Inc. cut its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 379,780 shares of the insurance provider’s stock after selling 91,728 shares during the period. Charles Schwab Investment Management Inc.’s holdings in James River Group were worth $1,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in James River Group during the 3rd quarter valued at about $320,000. RBF Capital LLC grew its stake in shares of 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 acquiring an additional 42,946 shares during the last quarter. Ieq Capital LLC acquired a new position in shares of James River Group during the fourth quarter valued at about $197,000. Barclays PLC raised its position in shares of James River Group by 288.2% in the 3rd quarter. Barclays PLC now owns 43,940 shares of the insurance provider’s stock valued at $275,000 after purchasing an additional 32,621 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of James River Group by 39.5% in the 3rd quarter. Jane Street Group LLC now owns 90,838 shares of the insurance provider’s stock valued at $570,000 after purchasing an additional 25,738 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

JRVR has been the topic of a number of recent analyst reports. Citigroup restated a “hold” rating on shares of James River Group in a research note on Tuesday, March 11th. JMP Securities cut their target price on James River Group from $11.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Friday, December 20th. Truist Financial reduced their target price on James River Group from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Keefe, Bruyette & Woods dropped their price target on James River Group from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Thursday, March 13th. Finally, StockNews.com cut James River Group from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.06.

James River Group Trading Down 2.5 %

NASDAQ JRVR opened at $4.25 on Friday. James River Group Holdings, Ltd. has a 1 year low of $3.00 and a 1 year high of $9.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $193.99 million, a PE ratio of -1.05 and a beta of 0.04. The company has a fifty day moving average of $4.51 and a 200 day moving average of $5.18.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings results on Monday, March 3rd. The insurance provider reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.66). The business had revenue of $126.71 million for the quarter, compared to analysts’ expectations of $159.91 million. James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. During the same quarter in the prior year, the company posted $0.33 EPS. Research analysts forecast that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current year.

James River Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, March 10th. James River Group’s payout ratio is -1.38%.

About James River Group

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.