James River Group Holdings, Ltd. $JRVR Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in James River Group Holdings, Ltd. by 17.7%, now owning approximately 0.69% of the company valued at about $1.3 million.
• James River Group recently announced a quarterly dividend of $0.01 per share, with an yield of 0.7%, to be paid on September 30th.
• Analysts have upgraded James River Group's stock from a "sell" to a "hold" rating while two analysts rated it as a Buy; the average target price is set at $6.06.

Charles Schwab Investment Management Inc. lowered its stake in James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 17.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 312,692 shares of the insurance provider's stock after selling 67,088 shares during the period. Charles Schwab Investment Management Inc. owned 0.69% of James River Group worth $1,313,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Aquatic Capital Management LLC bought a new stake in James River Group during the 4th quarter worth about $41,000. ProShare Advisors LLC acquired a new position in shares of James River Group during the fourth quarter valued at about $51,000. Simplicity Wealth LLC bought a new stake in James River Group in the first quarter worth about $51,000. Sowell Financial Services LLC purchased a new position in James River Group during the first quarter valued at approximately $55,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of James River Group in the 4th quarter valued at $84,000. 95.21% of the stock is owned by institutional investors.

James River Group Price Performance

James River Group stock traded up $0.17 during trading hours on Wednesday, hitting $5.58. The stock had a trading volume of 308,916 shares, compared to its average volume of 309,691. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $256.23 million, a price-to-earnings ratio of -1.77 and a beta of 0.03. James River Group Holdings, Ltd. has a 1-year low of $3.00 and a 1-year high of $7.19. The stock's fifty day moving average is $5.69 and its two-hundred day moving average is $5.10.

James River Group (NASDAQ:JRVR - Get Free Report) last released its 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 firm had revenue of $152.61 million for the quarter, compared to the consensus estimate of $176.46 million. James River Group had a negative return on equity of 1.97% and a negative net margin of 13.50%. As a group, analysts predict that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current fiscal year.

James River Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.01 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.7%. James River Group's dividend payout ratio (DPR) is presently -1.27%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on JRVR shares. Wall Street Zen raised shares of James River Group from a "sell" rating to a "hold" rating in a report on Friday, June 6th. JMP Securities reissued a "market outperform" rating and set a $8.00 price target on shares of James River Group in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.