Bank of America Corp DE Lowers Holdings in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Bank of America Corp DE lessened its stake in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 22.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 252,035 shares of the insurance provider's stock after selling 73,763 shares during the period. Bank of America Corp DE owned about 0.67% of James River Group worth $1,227,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Aquatic Capital Management LLC bought a new stake in James River Group during the 4th quarter valued at $41,000. Quantbot Technologies LP increased its stake in shares of James River Group by 24.8% during the fourth quarter. Quantbot Technologies LP now owns 12,556 shares of the insurance provider's stock valued at $61,000 after buying an additional 2,498 shares during the period. Intech Investment Management LLC bought a new stake in shares of James River Group in the fourth quarter valued at about $68,000. SG Americas Securities LLC raised its holdings in shares of James River Group by 41.6% in the fourth quarter. SG Americas Securities LLC now owns 15,616 shares of the insurance provider's stock valued at $76,000 after acquiring an additional 4,586 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in James River Group in the fourth quarter worth about $84,000. Hedge funds and other institutional investors own 95.21% of the company's stock.

James River Group Stock Up 1.2%

Shares of James River Group stock traded up $0.07 during trading on Friday, reaching $5.93. The company's stock had a trading volume of 677,321 shares, compared to its average volume of 318,677. James River Group Holdings, Ltd. has a 1-year low of $3.00 and a 1-year high of $8.99. The company has a 50-day simple moving average of $4.82 and a two-hundred day simple moving average of $4.66. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.38. The company has a market cap of $272.15 million, a price-to-earnings ratio of -1.46 and a beta of 0.08.

James River Group (NASDAQ:JRVR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The insurance provider reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.05). 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 $172.29 million for the quarter, compared to analysts' expectations of $184.15 million. As a group, equities analysts forecast that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current year.

James River Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, June 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.67%. James River Group's payout ratio is -1.29%.

Insiders Place Their Bets

In other news, insider Todd Randell Sutherland bought 17,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was purchased at an average price of $5.87 per share, with a total value of $99,790.00. Following the completion of the acquisition, the insider now directly owns 24,457 shares of the company's stock, valued at $143,562.59. This trade represents a 227.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter B. Migliorato purchased 18,500 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was acquired at an average price of $5.46 per share, for a total transaction of $101,010.00. Following the acquisition, the director now owns 39,201 shares in the company, valued at $214,037.46. This trade represents a 89.37% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 64,625 shares of company stock valued at $353,124. Insiders own 16.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on JRVR shares. Citigroup reissued a "hold" rating on shares of James River Group in a research note on Tuesday, March 11th. Compass Point cut their price target on James River Group from $7.75 to $6.25 and set a "buy" rating on the stock in a report on Monday, March 10th. JMP Securities restated a "market outperform" rating and set a $8.00 price objective on shares of James River Group in a research note on Tuesday, May 6th. Truist Financial dropped their price objective on James River Group from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of James River Group from $6.00 to $5.00 and set a "market perform" rating for the company in a research report on Thursday, March 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, James River Group presently has a consensus rating of "Hold" and an average price target of $6.06.

James River Group 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.