Jennison Associates LLC Reduces Stake in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Jennison Associates LLC reduced its stake in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 20.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 913,267 shares of the insurance provider’s stock after selling 241,435 shares during the period. Jennison Associates LLC’s holdings in James River Group were worth $8,493,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in James River Group by 24,641.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,247 shares of the insurance provider’s stock valued at $225,000 after purchasing an additional 24,149 shares during the period. Aristides Capital LLC purchased a new position in shares of James River Group during the 4th quarter valued at $264,000. Aigen Investment Management LP grew its stake in shares of James River Group by 172.8% during the 4th quarter. Aigen Investment Management LP now owns 30,088 shares of the insurance provider’s stock worth $278,000 after acquiring an additional 19,057 shares during the period. Graham Capital Management L.P. increased its holdings in James River Group by 11.1% in the 3rd quarter. Graham Capital Management L.P. now owns 19,155 shares of the insurance provider’s stock worth $294,000 after acquiring an additional 1,920 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in James River Group in the 4th quarter valued at about $345,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

James River Group Price Performance

Shares of JRVR traded down $0.15 during mid-day trading on Tuesday, reaching $7.01. 182,399 shares of the stock traded hands, compared to its average volume of 934,618. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.41. James River Group Holdings, Ltd. has a 1 year low of $6.35 and a 1 year high of $19.07. The company has a market cap of $265.16 million, a price-to-earnings ratio of -3.43 and a beta of 0.17. The firm has a fifty day moving average price of $7.81 and a 200 day moving average price of $8.67.

James River Group (NASDAQ:JRVR) last announced its earnings results on Wednesday, May 8th. The insurance provider reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. James River Group had a positive return on equity of 12.85% and a negative net margin of 10.56%. The business had revenue of $201.13 million for the quarter, compared to analyst estimates of $172.26 million. During the same period in the prior year, the company earned $0.56 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts predict that James River Group Holdings, Ltd. will post 1.75 earnings per share for the current year.

James River Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 10th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.20 dividend on an annualized basis and a yield of 2.85%. James River Group’s dividend payout ratio is presently -9.57%.

Wall Street Analysts Forecast Growth

JRVR has been the subject of several recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $15.00 target price on shares of James River Group in a research note on Monday, April 15th. Compass Point raised 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, James River Group presently has an average rating of “Hold” and an average target price of $12.33.

James River Group Company Profile

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.