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

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

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers raised its position in James River Group by 4.1% during the 4th quarter. Rhumbline Advisers now owns 55,967 shares of the insurance provider's stock valued at $273,000 after purchasing an additional 2,179 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of James River Group by 24.8% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of James River Group by 22.3% during 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 acquiring an additional 3,839 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of James River Group by 41.6% during the fourth quarter. SG Americas Securities LLC now owns 15,616 shares of the insurance provider's stock valued at $76,000 after acquiring 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 worth $576,000 after acquiring an additional 5,553 shares during the period. Institutional investors own 95.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on JRVR shares. Keefe, Bruyette & Woods reduced 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 research report on Thursday, March 13th. Citigroup reaffirmed a "hold" rating on shares of James River Group in a research note on Tuesday, March 11th. Compass Point decreased their price target on shares of James River Group from $7.75 to $6.25 and set a "buy" rating for the company in a research note on Monday, March 10th. JMP Securities restated a "market outperform" rating and issued a $8.00 price objective on shares of James River Group in a report on Tuesday, May 6th. Finally, Truist Financial cut their price objective on James River Group from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $6.06.

James River Group Stock Down 3.3%

Shares of NASDAQ:JRVR traded down $0.20 during midday trading on Tuesday, reaching $5.79. The company's stock had a trading volume of 214,898 shares, compared to its average volume of 314,663. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $5.07 and a 200-day moving average of $4.72. The firm has a market capitalization of $265.70 million, a P/E ratio of -1.87 and a beta of 0.08. James River Group Holdings, Ltd. has a 12-month low of $3.00 and a 12-month high of $8.99.

James River Group (NASDAQ:JRVR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The insurance provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.05). James River Group had a negative return on equity of 2.12% and a negative net margin of 12.81%. The business had revenue of $172.29 million for the quarter, compared to the consensus estimate of $184.15 million. On average, research 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $0.01 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.69%. James River Group's dividend payout ratio is currently -1.29%.

Insider Buying and Selling

In related news, insider Todd Randell Sutherland purchased 17,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was purchased at an average price of $5.87 per share, with a total value of $99,790.00. Following the transaction, the insider now directly owns 24,457 shares in the company, valued at $143,562.59. This trade represents a 227.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter B. Migliorato acquired 18,500 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were purchased at an average cost of $5.46 per share, for a total transaction of $101,010.00. Following the completion of the transaction, the director now directly owns 39,201 shares in the company, valued at $214,037.46. The trade was a 89.37% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 64,625 shares of company stock worth $353,124 in the last 90 days. Insiders own 16.50% of the company's stock.

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.