BlackRock Inc. Sells 88,701 Shares of James River Group Holdings Ltd (NASDAQ:JRVR)

BlackRock Inc. decreased its position in shares of James River Group Holdings Ltd (NASDAQ:JRVR) by 2.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,124,903 shares of the insurance provider’s stock after selling 88,701 shares during the quarter. BlackRock Inc. owned approximately 13.77% of James River Group worth $150,724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of JRVR. Vanguard Group Inc. raised its holdings in shares of James River Group by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,707,076 shares of the insurance provider’s stock valued at $72,756,000 after buying an additional 31,445 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of James River Group by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 334,532 shares of the insurance provider’s stock valued at $14,257,000 after buying an additional 15,380 shares in the last quarter. FMR LLC raised its holdings in shares of James River Group by 8.7% during the 3rd quarter. FMR LLC now owns 626,765 shares of the insurance provider’s stock valued at $26,712,000 after buying an additional 50,410 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of James River Group by 6.2% during the 4th quarter. Arizona State Retirement System now owns 46,127 shares of the insurance provider’s stock valued at $1,685,000 after buying an additional 2,712 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of James River Group by 9.1% during the 4th quarter. Victory Capital Management Inc. now owns 36,989 shares of the insurance provider’s stock valued at $1,352,000 after buying an additional 3,090 shares in the last quarter. Institutional investors and hedge funds own 98.09% of the company’s stock.

James River Group stock traded down $0.02 during trading hours on Monday, reaching $38.29. The company had a trading volume of 55,600 shares, compared to its average volume of 125,307. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $1.16 billion, a P/E ratio of 16.43 and a beta of 0.57. James River Group Holdings Ltd has a 12-month low of $34.08 and a 12-month high of $43.47.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Thursday, February 21st. The insurance provider reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.09). The business had revenue of $214.52 million during the quarter, compared to the consensus estimate of $214.20 million. James River Group had a return on equity of 10.15% and a net margin of 7.21%. Sell-side analysts expect that James River Group Holdings Ltd will post 2.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were given a $0.30 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.13%. James River Group’s dividend payout ratio is currently 51.50%.

In other news, insider Michael E. Crow sold 7,019 shares of James River Group stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $40.69, for a total value of $285,603.11. The sale was disclosed in a document filed with the SEC, which is available through this link. 15.00% of the stock is currently owned by company insiders.

JRVR has been the topic of a number of research reports. Zacks Investment Research cut James River Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Compass Point started coverage on James River Group in a research note on Tuesday, January 15th. They issued a “buy” rating and a $44.00 price target on the stock. BidaskClub raised James River Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. B. Riley reaffirmed a “neutral” rating on shares of James River Group in a research note on Friday, March 1st. Finally, ValuEngine raised James River Group from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $39.75.

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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 liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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Institutional Ownership by Quarter for James River Group (NASDAQ:JRVR)

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