Geode Capital Management LLC Acquires 59,763 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

Geode Capital Management LLC lifted its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 860,139 shares of the insurance provider's stock after buying an additional 59,763 shares during the period. Geode Capital Management LLC owned about 2.27% of James River Group worth $4,190,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of JRVR. Quantbot Technologies LP raised its stake in James River Group by 24.8% during the fourth quarter. Quantbot Technologies LP now owns 12,556 shares of the insurance provider's stock worth $61,000 after acquiring an additional 2,498 shares in the last quarter. Intech Investment Management LLC bought a new position in James River Group in the 4th quarter valued at approximately $68,000. SG Americas Securities LLC grew its holdings in James River Group by 41.6% during the 4th quarter. SG Americas Securities LLC now owns 15,616 shares of the insurance provider's stock worth $76,000 after acquiring an additional 4,586 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in James River Group during the 4th quarter valued at approximately $84,000. Finally, Ieq Capital LLC bought a new position in James River Group during the 4th quarter worth approximately $197,000. 95.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on JRVR. Truist Financial reduced their price objective on shares of James River Group from $6.00 to $5.00 and set a "hold" rating on the stock in a research note on Tuesday, March 11th. Compass Point decreased their price target on James River Group from $7.75 to $6.25 and set a "buy" rating for the company in a report on Monday, March 10th. Citigroup reissued a "hold" rating on shares of James River Group in a research note on Tuesday, March 11th. Keefe, Bruyette & Woods decreased their target price on James River Group from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Thursday, March 13th. Finally, StockNews.com downgraded James River Group from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $6.06.

James River Group Stock Performance

NASDAQ JRVR opened at $4.38 on Monday. 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 52 week low of $3.00 and a 52 week high of $9.17. The business has a 50 day moving average price of $4.25 and a 200-day moving average price of $4.84. The company has a market cap of $199.92 million, a price-to-earnings ratio of -1.08 and a beta of 0.04.

James River Group (NASDAQ:JRVR - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The insurance provider reported ($0.99) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.66). The business had revenue of $126.71 million for the quarter, compared to the consensus estimate of $159.91 million. James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. During the same quarter last year, the firm posted $0.33 EPS. As a group, equities analysts expect that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current fiscal year.

James River Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Monday, March 10th. James River Group's dividend payout ratio is currently -1.38%.

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.

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