Short Interest in James River Group Holdings, Ltd. (JRVR) Drops By 73.3%

James River Group Holdings, Ltd. (NASDAQ:JRVR) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 149,753 shares, a decline of 73.3% from the October 31st total of 560,668 shares. Based on an average trading volume of 364,907 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.5% of the shares of the company are sold short.

In other news, Director Bryan Martin sold 450,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $38.10, for a total transaction of $17,145,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Zwillinger sold 2,600,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $38.10, for a total transaction of $99,060,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,450,000 shares of company stock valued at $131,445,000. Corporate insiders own 41.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in James River Group in the second quarter worth about $124,000. Advisor Group Inc. lifted its holdings in James River Group by 11.0% in the second quarter. Advisor Group Inc. now owns 3,937 shares of the insurance provider’s stock worth $156,000 after purchasing an additional 391 shares during the period. Legal & General Group Plc lifted its holdings in James River Group by 21.4% in the second quarter. Legal & General Group Plc now owns 4,248 shares of the insurance provider’s stock worth $169,000 after purchasing an additional 748 shares during the period. Bank of Montreal Can acquired a new stake in James River Group in the second quarter worth about $203,000. Finally, QS Investors LLC acquired a new stake in James River Group in the second quarter worth about $236,000. 96.19% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $47.00 price target on shares of James River Group in a report on Tuesday, November 14th. JMP Securities assumed coverage on shares of James River Group in a report on Tuesday, October 17th. They set an “outperform” rating and a $47.00 price target for the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $42.00 price target on shares of James River Group in a report on Thursday, September 21st. ValuEngine downgraded shares of James River Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Zacks Investment Research raised shares of James River Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $47.00.

Shares of James River Group (JRVR) opened at $40.58 on Monday. The firm has a market cap of $1,201.64, a PE ratio of 18.44 and a beta of 0.50. James River Group has a 1-year low of $37.24 and a 1-year high of $46.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.25 and a quick ratio of 0.25.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $220.87 million during the quarter, compared to the consensus estimate of $198.67 million. James River Group had a net margin of 8.98% and a return on equity of 9.36%. The company’s quarterly revenue was up 45.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. analysts forecast that James River Group will post 2.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $3.20 annualized dividend and a yield of 7.89%. This is an increase from James River Group’s previous quarterly dividend of $0.30. James River Group’s dividend payout ratio is presently 52.63%.

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James River Group 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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