BlackRock Inc. increased its stake in James River Group Holdings Ltd (NASDAQ:JRVR) by 69.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,155,688 shares of the insurance provider’s stock after buying an additional 1,696,697 shares during the quarter. BlackRock Inc. owned approximately 13.88% of James River Group worth $163,277,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JRVR. Deprince Race & Zollo Inc. acquired a new stake in shares of James River Group in the 2nd quarter valued at approximately $48,240,000. Principal Financial Group Inc. lifted its holdings in James River Group by 73.0% during the 1st quarter. Principal Financial Group Inc. now owns 2,384,860 shares of the insurance provider’s stock valued at $84,591,000 after purchasing an additional 1,006,477 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in James River Group by 1,681.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 381,322 shares of the insurance provider’s stock valued at $14,984,000 after purchasing an additional 359,921 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in James River Group by 45.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 908,769 shares of the insurance provider’s stock valued at $32,234,000 after purchasing an additional 282,457 shares during the last quarter. Finally, Champlain Investment Partners LLC acquired a new stake in James River Group during the 1st quarter valued at $4,054,000. 98.58% of the stock is owned by institutional investors.
Shares of James River Group stock opened at $42.19 on Friday. James River Group Holdings Ltd has a 1 year low of $32.17 and a 1 year high of $44.34. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 27.02 and a beta of 0.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.33 and a quick ratio of 0.33.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Monday, September 10th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, September 7th. James River Group’s payout ratio is 76.43%.
Several equities research analysts have issued reports on the company. BidaskClub downgraded James River Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $46.00 price target on shares of James River Group in a report on Friday, August 3rd. Zacks Investment Research raised James River Group from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Thursday, August 9th. Finally, B. Riley raised their price target on James River Group from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $44.00.
About James River Group
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites property and liability insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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