James River Group Holdings, Ltd. $JRVR Holdings Decreased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs reduced its stake in James River Group Holdings by 18.9%, now owning approximately 746,976 shares valued at $3,137,000.
• Several large investors increased their positions in James River Group, with Zimmer Partners LP raising its holdings by 684.4% to over 2.16 million shares.
• James River Group recently declared a $0.01 quarterly dividend, with an annualized yield of 0.7%, despite a negative return on equity of -1.97% reported in its latest earnings.

Goldman Sachs Group Inc. lowered its position in James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 18.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 746,976 shares of the insurance provider's stock after selling 174,051 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.63% of James River Group worth $3,137,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new position in James River Group in the first quarter worth approximately $25,000. Simplicity Wealth LLC purchased a new stake in shares of James River Group during the 1st quarter worth approximately $51,000. ProShare Advisors LLC purchased a new position in James River Group during the 4th quarter worth approximately $51,000. Sowell Financial Services LLC purchased a new position in James River Group during the 1st quarter worth approximately $55,000. Finally, FNY Investment Advisers LLC purchased a new position in James River Group during the 1st quarter worth approximately $102,000. Hedge funds and other institutional investors own 95.21% of the company's stock.

James River Group Stock Performance

JRVR traded up $0.08 during trading hours on Tuesday, hitting $5.63. 58,689 shares of the stock were exchanged, compared to its average volume of 272,478. The stock has a 50-day simple moving average of $5.62 and a 200-day simple moving average of $5.17. James River Group Holdings, Ltd. has a 12 month low of $3.00 and a 12 month high of $7.19. The stock has a market cap of $258.53 million, a price-to-earnings ratio of -1.78 and a beta of 0.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.63 and a quick ratio of 0.63.

James River Group (NASDAQ:JRVR - Get Free Report) last posted its earnings results on Monday, August 4th. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. The company had revenue of $152.61 million for the quarter, compared to analysts' expectations of $176.46 million. James River Group had a negative return on equity of 1.97% and a negative net margin of 13.50%. Analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, September 15th. James River Group's dividend payout ratio (DPR) is presently -1.27%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of James River Group from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $6.06.

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.