Millennium Management LLC Sells 427,155 Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR)

Millennium Management LLC decreased its position in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 95.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,161 shares of the insurance provider's stock after selling 427,155 shares during the quarter. Millennium Management LLC's holdings in James River Group were worth $88,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of JRVR. Rhumbline Advisers lifted its stake in James River Group by 4.1% in the fourth quarter. Rhumbline Advisers now owns 55,967 shares of the insurance provider's stock valued at $273,000 after buying an additional 2,179 shares in the last quarter. Quantbot Technologies LP lifted its stake in James River Group by 24.8% in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in James River Group by 22.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,028 shares of the insurance provider's stock valued at $102,000 after buying an additional 3,839 shares in the last quarter. SG Americas Securities LLC lifted its stake in 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 buying an additional 4,586 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in James River Group by 4.9% in the fourth quarter. Empowered Funds LLC now owns 118,194 shares of the insurance provider's stock valued at $576,000 after buying an additional 5,553 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

Insider Activity at James River Group

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

Analyst Ratings Changes

JRVR has been the topic of a number of recent research reports. Truist Financial lowered their price objective on shares of James River Group from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Tuesday, March 11th. Keefe, Bruyette & Woods lowered their price objective on shares of James River Group from $6.00 to $5.00 and set a "market perform" rating on the stock in a report on Thursday, March 13th. Citigroup reiterated a "hold" rating on shares of James River Group in a report on Tuesday, March 11th. Wall Street Zen upgraded shares of James River Group from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Finally, Compass Point lowered their target price on shares of James River Group from $7.75 to $6.25 and set a "buy" rating on the stock in a report on Monday, March 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.06.

James River Group Stock Performance

NASDAQ:JRVR opened at $5.85 on Friday. The company has a market capitalization of $268.47 million, a PE ratio of -1.44 and a beta of 0.08. 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 debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50 day simple moving average of $5.00 and a two-hundred day simple moving average of $4.71.

James River Group (NASDAQ:JRVR - Get Free Report) last posted 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 business had revenue of $172.29 million during the quarter, compared to analyst estimates of $184.15 million. Research analysts anticipate that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current year.

James River Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 yield of 0.68%. The ex-dividend date is Monday, June 9th. James River Group's dividend payout ratio is currently -1.29%.

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.

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