Zimmer Partners LP Acquires 1,886,781 Shares of James River Group Holdings, Ltd. $JRVR

Key Points

• Zimmer Partners LP significantly increased its stake in James River Group Holdings, acquiring an additional 1,886,781 shares, resulting in total holdings of over 2.16 million shares worth approximately $9.08 million.
• The company reported earnings of $0.23 per share for the last quarter, surpassing estimates, despite facing a negative return on equity of -1.97% and a revenue shortfall compared to expectations.
• James River Group has recently declared a quarterly dividend of $0.01 per share, with an annualized dividend yield of 0.7%, scheduled for payment on September 30th.

Zimmer Partners LP lifted its position in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 684.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,162,484 shares of the insurance provider's stock after buying an additional 1,886,781 shares during the quarter. Zimmer Partners LP owned about 4.71% of James River Group worth $9,082,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $102,000 after buying an additional 3,839 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of James River Group during the first quarter worth $25,000. Bank of New York Mellon Corp lifted its holdings in shares of James River Group by 6.7% during the first quarter. Bank of New York Mellon Corp now owns 98,867 shares of the insurance provider's stock worth $415,000 after buying an additional 6,206 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of James River Group by 52.9% during the fourth quarter. Wells Fargo & Company MN now owns 22,026 shares of the insurance provider's stock worth $107,000 after buying an additional 7,625 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of James River Group during the fourth quarter worth $51,000. Institutional investors and hedge funds own 95.21% of the company's stock.

James River Group Price Performance

JRVR stock traded down $0.10 during midday trading on Friday, reaching $5.31. The company had a trading volume of 168,305 shares, compared to its average volume of 307,150. The company has a market capitalization of $243.84 million, a price-to-earnings ratio of -1.68 and a beta of 0.03. The stock has a 50 day moving average price of $5.64 and a 200-day moving average price of $5.13. James River Group Holdings, Ltd. has a 1-year low of $3.00 and a 1-year high of $7.19. 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 quarterly earnings results on Monday, August 4th. The insurance provider reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. The business had revenue of $152.61 million during 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%. Equities research analysts expect that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current year.

James River Group Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised James River Group from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.