Neuberger Berman Group LLC bought a new stake in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,660 shares of the insurance provider’s stock, valued at approximately $243,000.
Other institutional investors have also recently added to or reduced their stakes in the company. First Republic Investment Management Inc. bought a new position in shares of James River Group Holdings during the fourth quarter worth approximately $204,000. Creative Planning boosted its stake in James River Group Holdings by 3,123.3% in the first quarter. Creative Planning now owns 4,835 shares of the insurance provider’s stock valued at $207,000 after buying an additional 4,685 shares during the period. Nine Chapters Capital Management LLC acquired a new stake in James River Group Holdings during the first quarter valued at about $210,000. A.R.T. Advisors LLC acquired a new stake in James River Group Holdings during the fourth quarter valued at about $302,000. Finally, Brown Advisory Inc. boosted its stake in James River Group Holdings by 48.2% in the fourth quarter. Brown Advisory Inc. now owns 8,455 shares of the insurance provider’s stock valued at $351,000 after buying an additional 2,750 shares during the period. Institutional investors and hedge funds own 94.58% of the company’s stock.
James River Group Holdings, Ltd. (JRVR) traded up 1.22% during mid-day trading on Friday, hitting $39.90. The stock had a trading volume of 62,835 shares. The firm has a market cap of $1.17 billion, a PE ratio of 14.96 and a beta of 0.56. The company has a 50-day moving average of $39.66 and a 200-day moving average of $41.00. James River Group Holdings, Ltd. has a 12-month low of $33.06 and a 12-month high of $46.20.
James River Group Holdings (NASDAQ:JRVR) last posted its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. James River Group Holdings had a return on equity of 10.59% and a net margin of 12.69%. The business had revenue of $176.40 million during the quarter, compared to the consensus estimate of $154.06 million. During the same period last year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. Analysts expect that James River Group Holdings, Ltd. will post $2.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Monday, June 12th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $1.20 dividend on an annualized basis and a yield of 3.01%. James River Group Holdings’s dividend payout ratio is currently 45.11%.
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JRVR has been the subject of several recent analyst reports. Zacks Investment Research cut James River Group Holdings from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. BidaskClub raised James River Group Holdings from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. James River Group Holdings currently has a consensus rating of “Buy” and a consensus price target of $44.75.
In other news, Director Bryan Martin sold 4,250,000 shares of James River Group Holdings stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $39.41, for a total transaction of $167,492,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 41.00% of the company’s stock.
James River Group Holdings Company Profile
James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. 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 commercial excess and surplus lines liability and excess property insurance products.
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