Short Interest in James River Group Holdings, Ltd. (NASDAQ:JRVR) Drops By 12.6%

James River Group Holdings, Ltd. (NASDAQ:JRVR) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 961,900 shares, a decrease of 12.6% from the September 30th total of 1,100,000 shares. Based on an average daily volume of 269,500 shares, the short-interest ratio is presently 3.6 days. Approximately 2.6% of the shares of the stock are short sold.

Institutional Trading of James River Group

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in James River Group by 22.9% during the 1st quarter. Vanguard Group Inc. now owns 2,579,287 shares of the insurance provider’s stock valued at $23,987,000 after purchasing an additional 479,823 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of James River Group by 2,512.5% during the second quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock valued at $10,644,000 after buying an additional 1,324,309 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of James River Group by 143.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 512,968 shares of the insurance provider’s stock valued at $4,771,000 after buying an additional 302,257 shares during the period. Marshall Wace LLP raised its holdings in shares of James River Group by 39.2% during the second quarter. Marshall Wace LLP now owns 469,963 shares of the insurance provider’s stock valued at $3,633,000 after acquiring an additional 132,300 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in James River Group by 7.9% in the second quarter. Cubist Systematic Strategies LLC now owns 275,519 shares of the insurance provider’s stock worth $2,130,000 after acquiring an additional 20,085 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JRVR. Compass Point dropped their target price on shares of James River Group from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Truist Financial cut their target price on shares of James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Finally, JMP Securities lowered their price target on James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.17.

James River Group Trading Down 1.1 %

JRVR traded down $0.07 on Thursday, hitting $6.22. 216,100 shares of the company were exchanged, compared to its average volume of 682,539. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a fifty day simple moving average of $6.67 and a two-hundred day simple moving average of $7.51. The stock has a market capitalization of $235.28 million, a PE ratio of -2.98 and a beta of 0.16. James River Group has a 12 month low of $6.12 and a 12 month high of $15.02.

James River Group (NASDAQ:JRVR) last issued its earnings results on Monday, August 5th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.09). James River Group had a positive return on equity of 11.66% and a negative net margin of 12.79%. The firm had revenue of $188.30 million during the quarter, compared to the consensus estimate of $169.39 million. During the same quarter in the prior year, the business posted $0.53 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts expect that James River Group will post 1.85 earnings per share for the current year.

James River Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Monday, September 16th. James River Group’s dividend payout ratio (DPR) is -9.57%.

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.