Aigen Investment Management LP Trims Stock Position in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Aigen Investment Management LP lowered its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 49.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,649 shares of the insurance provider’s stock after selling 15,269 shares during the quarter. Aigen Investment Management LP’s holdings in James River Group were worth $98,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JRVR. Russell Investments Group Ltd. increased its holdings in James River Group by 291.1% in the 1st quarter. Russell Investments Group Ltd. now owns 75,170 shares of the insurance provider’s stock worth $699,000 after acquiring an additional 55,951 shares in the last quarter. Vanguard Group Inc. increased its holdings in James River Group by 22.9% in the 1st quarter. Vanguard Group Inc. now owns 2,579,287 shares of the insurance provider’s stock worth $23,987,000 after acquiring an additional 479,823 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in James River Group in the 1st quarter worth approximately $172,000. Price T Rowe Associates Inc. MD increased its holdings in James River Group by 32.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,989 shares of the insurance provider’s stock worth $355,000 after acquiring an additional 9,414 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in James River Group by 143.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 512,968 shares of the insurance provider’s stock worth $4,771,000 after acquiring an additional 302,257 shares in 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 subject of several analyst reports. JMP Securities reduced their target price on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, August 6th. Compass Point cut their price objective on shares of James River Group from $12.50 to $12.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial cut their price objective on shares of James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.00.

James River Group Stock Down 2.3 %

NASDAQ JRVR opened at $4.63 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.64 and a current ratio of 0.65. The company has a market capitalization of $175.15 million, a P/E ratio of -1.14 and a beta of 0.17. James River Group Holdings, Ltd. has a one year low of $4.47 and a one year high of $11.49. The stock has a 50 day moving average price of $6.34 and a 200-day moving average price of $7.23.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, November 11th. The insurance provider reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.89). The firm had revenue of $191.50 million for the quarter, compared to the consensus estimate 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 firm’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, equities analysts predict that James River Group Holdings, Ltd. will post -0.35 EPS for the current fiscal year.

James River Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.86%. James River Group’s dividend payout ratio is presently -0.99%.

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.