Short Interest in James River Group Holdings, Ltd. (NASDAQ:JRVR) Grows By 26.0%

James River Group Holdings, Ltd. (NASDAQ:JRVR) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 834,000 shares, a growth of 26.0% from the March 15th total of 661,900 shares. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is currently 0.6 days. Approximately 2.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group lowered their price objective on shares of James River Group from $34.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Keefe, Bruyette & Woods reduced their target price on shares of James River Group from $11.00 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, March 7th. JMP Securities reiterated a “market outperform” rating and set a $15.00 target price on shares of James River Group in a report on Monday. Compass Point upgraded shares of James River Group from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, March 22nd. Finally, Truist Financial reduced their target price on shares of James River Group from $15.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, James River Group currently has an average rating of “Hold” and a consensus price target of $12.33.

James River Group Stock Up 1.3 %

Shares of JRVR traded up $0.11 during midday trading on Monday, reaching $8.57. The stock had a trading volume of 486,310 shares, compared to its average volume of 1,307,666. James River Group has a 1-year low of $6.35 and a 1-year high of $22.15. The company’s fifty day simple moving average is $9.18 and its two-hundred day simple moving average is $10.21. The company has a market cap of $322.75 million, a price-to-earnings ratio of -3.79 and a beta of 0.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.55 and a quick ratio of 0.55.

James River Group (NASDAQ:JRVR) last posted its earnings results on Wednesday, February 28th. The insurance provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). The company had revenue of $218.10 million during the quarter, compared to analysts’ expectations of $216.80 million. James River Group had a negative net margin of 10.80% and a positive return on equity of 13.75%. Equities research analysts expect that James River Group will post 1.75 earnings per share for the current year.

James River Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, March 8th. James River Group’s dividend payout ratio (DPR) is -8.85%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of JRVR. Citigroup Inc. grew its position in shares of James River Group by 7.0% in the 1st quarter. Citigroup Inc. now owns 32,256 shares of the insurance provider’s stock valued at $798,000 after buying an additional 2,113 shares during the last quarter. Rhumbline Advisers grew its position in shares of James River Group by 2.7% in the 1st quarter. Rhumbline Advisers now owns 99,304 shares of the insurance provider’s stock valued at $2,457,000 after buying an additional 2,587 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of James River Group by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,148 shares of the insurance provider’s stock valued at $795,000 after buying an additional 3,963 shares during the last quarter. BlackRock Inc. grew its position in James River Group by 1.5% during the 1st quarter. BlackRock Inc. now owns 5,465,363 shares of the insurance provider’s stock worth $135,211,000 after purchasing an additional 81,613 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in James River Group by 3.0% during the 1st quarter. Yousif Capital Management LLC now owns 34,965 shares of the insurance provider’s stock worth $865,000 after purchasing an additional 1,027 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.