James River Group Holdings, Ltd. (JRVR) Given Hold Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their hold rating on shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) in a research note published on Thursday. The firm currently has a $42.00 price target on the insurance provider’s stock.

Several other equities research analysts have also recently commented on JRVR. BidaskClub cut shares of James River Group Holdings from a hold rating to a sell rating in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of James River Group Holdings from a hold rating to a sell rating in a research report on Saturday, August 5th. Finally, ValuEngine cut shares of James River Group Holdings from a buy rating to a hold rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. James River Group Holdings has an average rating of Hold and a consensus price target of $45.25.

James River Group Holdings (JRVR) traded up 0.99% during trading on Thursday, hitting $40.66. 43,051 shares of the stock were exchanged. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 15.31 and a beta of 0.56. The stock’s 50 day moving average is $39.81 and its 200-day moving average is $40.52. James River Group Holdings has a one year low of $34.50 and a one year high of $46.20.

James River Group Holdings (NASDAQ:JRVR) last issued its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). James River Group Holdings had a net margin of 11.45% and a return on equity of 10.80%. The company had revenue of $202.40 million for the quarter, compared to the consensus estimate of $169.83 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. James River Group Holdings’s revenue for the quarter was up 50.5% compared to the same quarter last year. On average, equities research analysts expect that James River Group Holdings will post $2.50 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 11th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $1.20 annualized dividend and a yield of 2.98%. James River Group Holdings’s dividend payout ratio (DPR) is currently 45.28%.

In other news, CEO Steven J. Hartman sold 5,264 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $38.91, for a total transaction of $204,822.24. Following the sale, the chief executive officer now directly owns 55,843 shares in the company, valued at $2,172,851.13. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven J. Hartman sold 19,736 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $39.42, for a total value of $777,993.12. Following the sale, the chief executive officer now owns 70,315 shares in the company, valued at $2,771,817.30. The disclosure for this sale can be found here. 41.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of James River Group Holdings by 0.8% during the second quarter. FMR LLC now owns 2,649,141 shares of the insurance provider’s stock valued at $105,250,000 after purchasing an additional 21,164 shares during the period. Vanguard Group Inc. increased its position in shares of James River Group Holdings by 27.1% during the second quarter. Vanguard Group Inc. now owns 894,726 shares of the insurance provider’s stock valued at $35,548,000 after purchasing an additional 190,928 shares during the period. Goldman Sachs Group Inc. increased its position in shares of James River Group Holdings by 4,472.7% during the second quarter. Goldman Sachs Group Inc. now owns 853,306 shares of the insurance provider’s stock valued at $33,902,000 after purchasing an additional 834,645 shares during the period. OppenheimerFunds Inc. increased its position in shares of James River Group Holdings by 3.6% during the first quarter. OppenheimerFunds Inc. now owns 637,558 shares of the insurance provider’s stock valued at $27,325,000 after purchasing an additional 22,147 shares during the period. Finally, Victory Capital Management Inc. grew its position in James River Group Holdings by 2.4% in the first quarter. Victory Capital Management Inc. now owns 567,144 shares of the insurance provider’s stock valued at $24,308,000 after acquiring an additional 13,469 shares during the period. Institutional investors and hedge funds own 92.72% of the company’s stock.

About James River Group Holdings

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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