Bank of America Corp DE Has $1.23 Million Stock Holdings in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Bank of America Corp DE reduced its position in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 22.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 252,035 shares of the insurance provider's stock after selling 73,763 shares during the quarter. 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gallatin Point Capital LLC bought a new position in shares of James River Group in the fourth quarter worth $28,535,000. Boston Partners purchased a new position in shares of James River Group in the fourth quarter worth about $2,578,000. Price T Rowe Associates Inc. MD grew its holdings in James River Group by 101.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 850,526 shares of the insurance provider's stock worth $4,144,000 after acquiring an additional 428,636 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in James River Group by 2.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,739,840 shares of the insurance provider's stock valued at $18,214,000 after purchasing an additional 83,839 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of James River Group by 14.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 617,071 shares of the insurance provider's stock valued at $3,005,000 after acquiring an additional 76,605 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

Insider Transactions at James River Group

In related news, insider Todd Randell Sutherland purchased 17,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were acquired at an average cost of $5.87 per share, with a total value of $99,790.00. Following the completion of the purchase, the insider now owns 24,457 shares of the company's stock, valued at $143,562.59. The trade was a 227.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine Lasala bought 29,125 shares of the firm's stock in a transaction on Monday, May 19th. The shares were bought at an average cost of $5.23 per share, with a total value of $152,323.75. Following the transaction, the director now directly owns 60,758 shares of the company's stock, valued at approximately $317,764.34. This trade represents a 92.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 64,625 shares of company stock valued at $353,124 over the last quarter. Company insiders own 16.50% of the company's stock.

Wall Street Analyst Weigh In

JRVR has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of James River Group from a "sell" rating to a "hold" rating in a report on Friday. Compass Point decreased 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. Citigroup reaffirmed a "hold" rating on shares of James River Group in a report on Tuesday, March 11th. JMP Securities restated a "market outperform" rating and set a $8.00 price target on shares of James River Group in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of James River Group from $6.00 to $5.00 and set a "market perform" rating for the company in a report on Thursday, March 13th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, James River Group currently has an average rating of "Hold" and an average target price of $6.06.

James River Group Stock Down 1.2%

Shares of JRVR traded down $0.07 during mid-day trading on Monday, hitting $5.85. 179,847 shares of the company's stock were exchanged, compared to its average volume of 318,122. James River Group Holdings, Ltd. has a fifty-two week low of $3.00 and a fifty-two week high of $8.99. The company has a market cap of $268.47 million, a price-to-earnings ratio of -1.44 and a beta of 0.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. The stock's 50-day moving average is $4.82 and its 200-day moving average is $4.66.

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 (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.05). James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The company had revenue of $172.29 million during the quarter, compared to analyst estimates of $184.15 million. On average, sell-side analysts anticipate that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, June 9th. James River Group's dividend payout ratio is presently -1.29%.

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.