James River Group Holdings, Ltd. (NASDAQ:JRVR) Short Interest Down 6.8% in September

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 1,100,000 shares, a drop of 6.8% from the September 15th total of 1,180,000 shares. Based on an average daily trading volume, of 291,100 shares, the days-to-cover ratio is presently 3.8 days. Currently, 3.0% of the company's shares are sold short.

Hedge Funds Weigh In On James River Group

Several hedge funds and other institutional investors have recently modified their holdings of JRVR. SG Americas Securities LLC bought a new position in shares of James River Group in the 3rd quarter worth approximately $69,000. Sei Investments Co. purchased a new position in shares of James River Group during the 2nd quarter worth $83,000. Simplicity Wealth LLC bought a new stake in shares of James River Group during the 2nd quarter valued at $93,000. Levin Capital Strategies L.P. purchased a new stake in shares of James River Group in the 1st quarter worth $93,000. Finally, Pallas Capital Advisors LLC bought a new position in James River Group in the 2nd quarter worth $170,000. 95.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JRVR. Compass Point decreased their target price on James River Group from $12.50 to $12.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. JMP Securities decreased their price objective on shares of James River Group from $14.00 to $11.00 and set a "market outperform" rating for the company in a report on Tuesday, August 6th. Finally, Truist Financial cut their target price on shares of James River Group from $9.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, James River Group has a consensus rating of "Hold" and a consensus target price of $11.17.

James River Group Stock Up 3.0 %

JRVR traded up $0.20 during midday trading on Wednesday, reaching $6.80. The company's stock had a trading volume of 231,727 shares, compared to its average volume of 708,277. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37. The stock's 50-day moving average is $6.81 and its 200-day moving average is $7.65. James River Group has a 1 year low of $6.12 and a 1 year high of $15.47. The firm has a market capitalization of $257.22 million, a price-to-earnings ratio of -3.25 and a beta of 0.16.

James River Group (NASDAQ:JRVR - Get Free Report) 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). The firm had revenue of $188.30 million during the quarter, compared to analysts' expectations of $169.39 million. James River Group had a positive return on equity of 11.66% and a negative net margin of 12.79%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. As a group, research analysts expect that James River Group will post 1.85 EPS for the current year.

James River Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Monday, September 16th. James River Group's dividend payout ratio (DPR) is presently -9.57%.

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.