Los Angeles Capital Management LLC Purchases 11,106 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

Los Angeles Capital Management LLC boosted its position in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 36.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 41,976 shares of the insurance provider’s stock after purchasing an additional 11,106 shares during the period. Los Angeles Capital Management LLC owned about 0.11% of James River Group worth $263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in James River Group in the third quarter worth $157,000. Perpetual Ltd boosted its holdings in shares of James River Group by 33.3% in the 3rd quarter. Perpetual Ltd now owns 140,000 shares of the insurance provider’s stock worth $878,000 after buying an additional 35,000 shares during the last quarter. CWM LLC grew its position in James River Group by 40.7% during the third quarter. CWM LLC now owns 38,890 shares of the insurance provider’s stock valued at $244,000 after buying an additional 11,254 shares during the period. SG Americas Securities LLC purchased a new stake in James River Group during the third quarter worth about $69,000. Finally, AQR Capital Management LLC raised its position in James River Group by 2,512.5% in the second quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock worth $10,644,000 after acquiring an additional 1,324,309 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

James River Group Price Performance

Shares of NASDAQ:JRVR opened at $4.50 on Tuesday. The company has a 50 day moving average of $6.30 and a 200 day moving average of $7.20. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.38. The stock has a market cap of $170.23 million, a P/E ratio of -1.11 and a beta of 0.17. James River Group Holdings, Ltd. has a 12 month low of $4.41 and a 12 month high of $11.49.

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

James River Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, December 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.89%. James River Group’s dividend payout ratio (DPR) is presently -0.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Compass Point reduced their target price on shares of James River Group from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JMP Securities lowered their target price on James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 6th. Finally, Truist Financial cut their price target on James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

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.