Millennium Management LLC Trims Position in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Millennium Management LLC decreased its stake in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 26.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 778,039 shares of the insurance provider's stock after selling 286,718 shares during the period. Millennium Management LLC owned 2.06% of James River Group worth $6,014,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in JRVR. Vanguard Group Inc. lifted its holdings in shares of James River Group by 22.9% in the first 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 in the last quarter. AQR Capital Management LLC lifted its stake in James River Group by 2,512.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider's stock worth $10,644,000 after purchasing an additional 1,324,309 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in James River Group by 143.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 512,968 shares of the insurance provider's stock worth $4,771,000 after purchasing an additional 302,257 shares in the last quarter. Marshall Wace LLP boosted its holdings in James River Group by 39.2% in the 2nd quarter. Marshall Wace LLP now owns 469,963 shares of the insurance provider's stock valued at $3,633,000 after purchasing an additional 132,300 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of James River Group by 7.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 275,519 shares of the insurance provider's stock valued at $2,130,000 after purchasing an additional 20,085 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

James River Group Price Performance

Shares of NASDAQ JRVR traded up $0.18 during trading hours on Friday, reaching $6.45. 151,585 shares of the stock traded hands, compared to its average volume of 715,357. The company has a market capitalization of $244.00 million, a P/E ratio of -2.58 and a beta of 0.16. The company's 50-day simple moving average is $6.88 and its two-hundred day simple moving average is $7.73. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.37. James River Group Holdings, Ltd. has a 52-week low of $6.12 and a 52-week high of $15.47.

James River Group (NASDAQ:JRVR - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The insurance provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $188.30 million during the quarter, compared to the consensus estimate of $169.39 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company's revenue was down 3.3% compared to the same quarter last year. Equities research analysts forecast that James River Group Holdings, Ltd. will post 1.85 EPS for the current year.

James River Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.20 annualized dividend and a yield of 3.10%. James River Group's payout ratio is -8.00%.

Analysts Set New Price Targets

JRVR has been the subject of several research analyst reports. Compass Point dropped their price objective on James River Group from $12.50 to $12.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. JMP Securities cut their price objective on 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 lowered 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, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $11.17.

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.