Barclays PLC lowered its stake in shares of James River Group Holdings Ltd (NASDAQ:JRVR) by 12.9% in the third quarter, Holdings Channel.com reports. The firm owned 32,853 shares of the insurance provider’s stock after selling 4,863 shares during the period. Barclays PLC’s holdings in James River Group were worth $1,684,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of James River Group by 3.2% in the 2nd quarter. BlackRock Inc. now owns 4,429,582 shares of the insurance provider’s stock worth $207,749,000 after acquiring an additional 137,561 shares in the last quarter. Vanguard Group Inc. grew its position in James River Group by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,818,007 shares of the insurance provider’s stock worth $85,265,000 after purchasing an additional 42,184 shares in the last quarter. State Street Corp grew its position in James River Group by 1.9% in the 3rd quarter. State Street Corp now owns 838,805 shares of the insurance provider’s stock worth $42,980,000 after purchasing an additional 15,457 shares in the last quarter. Invesco Ltd. grew its position in James River Group by 668.2% in the 2nd quarter. Invesco Ltd. now owns 817,575 shares of the insurance provider’s stock worth $38,345,000 after purchasing an additional 711,141 shares in the last quarter. Finally, GW&K Investment Management LLC increased its stake in James River Group by 13.6% in the 3rd quarter. GW&K Investment Management LLC now owns 557,350 shares of the insurance provider’s stock valued at $28,558,000 after buying an additional 66,622 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.
In related news, CEO J Adam Abram purchased 1,585 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $35.00 per share, for a total transaction of $55,475.00. Following the purchase, the chief executive officer now directly owns 428,610 shares in the company, valued at approximately $15,001,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is owned by corporate insiders.
James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Thursday, November 7th. The insurance provider reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.24. The business had revenue of $231.47 million for the quarter, compared to analyst estimates of $227.50 million. James River Group had a net margin of 3.69% and a return on equity of 4.86%. Equities research analysts predict that James River Group Holdings Ltd will post 1.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, December 13th. James River Group’s dividend payout ratio is currently 51.50%.
Several equities analysts have commented on JRVR shares. TheStreet cut shares of James River Group from a “b-” rating to a “c” rating in a research report on Wednesday, November 6th. ValuEngine raised James River Group from a “hold” rating to a “buy” rating in a report on Tuesday. B. Riley downgraded James River Group from a “neutral” rating to a “sell” rating and decreased their price target for the company from $45.00 to $40.00 in a research report on Wednesday, October 9th. UBS Group upgraded James River Group from a “neutral” rating to a “buy” rating in a report on Tuesday, November 26th. Finally, BidaskClub raised James River Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. James River Group presently has a consensus rating of “Hold” and a consensus price target of $42.50.
James River Group Company Profile
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 liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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