Jacobs Levy Equity Management Inc. Has $1.72 Million Holdings in James River Group Holdings, Ltd. $JRVR

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in James River Group Holdings by 21% to approximately $1.7 million, maintaining an ownership of 410,157 shares.
• Analysts have recently upgraded James River Group from a "sell" to a "hold" rating, with an average price target of $6.06 for the stock.
• James River Group has reported a negative net margin of 13.50% and is projected to post -0.35 EPS for the current fiscal year.

Jacobs Levy Equity Management Inc. lessened its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 21.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 410,157 shares of the insurance provider's stock after selling 108,711 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.89% of James River Group worth $1,723,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in JRVR. Raymond James Financial Inc. acquired a new stake in James River Group during the 4th quarter worth $84,000. Dimensional Fund Advisors LP raised its stake in James River Group by 14.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 617,071 shares of the insurance provider's stock worth $3,005,000 after buying an additional 76,605 shares during the period. Northern Trust Corp raised its stake in James River Group by 16.3% during the 4th quarter. Northern Trust Corp now owns 306,468 shares of the insurance provider's stock worth $1,492,000 after buying an additional 42,841 shares during the period. BNP Paribas Financial Markets raised its stake in James River Group by 84.9% during the 4th quarter. BNP Paribas Financial Markets now owns 31,843 shares of the insurance provider's stock worth $155,000 after buying an additional 14,624 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in James River Group by 9.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,111,291 shares of the insurance provider's stock worth $5,412,000 after buying an additional 93,348 shares during the period. Institutional investors and hedge funds own 95.21% of the company's stock.

James River Group Stock Down 1.8%

Shares of JRVR traded down $0.10 during mid-day trading on Friday, hitting $5.31. 168,305 shares of the company's stock were exchanged, compared to its average volume of 320,927. The company has a market cap of $243.84 million, a PE ratio of -1.68 and a beta of 0.03. James River Group Holdings, Ltd. has a 52 week low of $3.00 and a 52 week high of $7.19. The company has a 50-day simple moving average of $5.64 and a 200 day simple moving average of $5.12. 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 issued its quarterly earnings results on Monday, August 4th. The insurance provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $152.61 million during the quarter, compared to analysts' expectations of $176.46 million. James River Group had a negative net margin of 13.50% and a negative return on equity of 1.97%. On average, research analysts forecast that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.8%. James River Group's payout ratio is currently -1.27%.

Wall Street Analysts Forecast Growth

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

James River Group Company 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.