Point72 Asia Singapore Pte. Ltd. Sells 18,786 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 46.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,057 shares of the insurance provider’s stock after selling 18,786 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in James River Group were worth $138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings 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 worth $23,987,000 after buying an additional 479,823 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of James River Group by 32.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 37,989 shares of the insurance provider’s stock worth $355,000 after buying an additional 9,414 shares during the period. CWM LLC grew its holdings in shares of James River Group by 1,902.6% during the second quarter. CWM LLC now owns 27,636 shares of the insurance provider’s stock worth $214,000 after buying an additional 26,256 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in James River Group in the 2nd quarter valued at approximately $93,000. Finally, Pallas Capital Advisors LLC bought a new stake in James River Group in the 2nd quarter valued at approximately $170,000. 95.21% of the stock is currently owned by institutional investors.

James River Group Price Performance

Shares of JRVR opened at $4.65 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.38. James River Group Holdings, Ltd. has a twelve month low of $4.35 and a twelve month high of $11.49. The stock has a market capitalization of $175.91 million, a P/E ratio of -1.15 and a beta of 0.09. The company has a 50 day moving average of $5.81 and a 200-day moving average of $6.88.

James River Group (NASDAQ:JRVR) last announced its earnings results on Monday, November 11th. The insurance provider reported ($0.74) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.89). James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. The business had revenue of $191.50 million for the quarter, compared to analyst estimates of $137.28 million. During the same quarter in the previous year, the company posted $0.48 EPS. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. As a group, equities research analysts forecast that James River Group Holdings, Ltd. will post -0.35 EPS for the current fiscal year.

James River Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.86%. James River Group’s payout ratio is -4.94%.

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.