James River Group Holdings, Ltd. $JRVR Shares Bought by Zimmer Partners LP

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

Other large investors have also modified their holdings of the company. Sowell Financial Services LLC purchased a new position in shares of James River Group during the 1st quarter worth approximately $55,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of James River Group by 22.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,028 shares of the insurance provider's stock valued at $102,000 after purchasing an additional 3,839 shares in the last quarter. Nuveen LLC purchased a new position in shares of James River Group in the 1st quarter valued at about $455,000. Interval Partners LP purchased a new position in shares of James River Group in the 1st quarter valued at about $275,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of James River Group by 14.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 617,071 shares of the insurance provider's stock valued at $3,005,000 after purchasing an additional 76,605 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

James River Group Price Performance

NASDAQ:JRVR traded down $0.10 during mid-day trading on Friday, hitting $5.31. 168,305 shares of the company's stock traded hands, compared to its average volume of 273,875. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.63 and a current ratio of 0.63. The firm's 50 day simple moving average is $5.65 and its 200 day simple moving average is $5.12. 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 market cap of $243.81 million, a PE ratio of -1.68 and a beta of 0.03.

James River Group (NASDAQ:JRVR - Get Free Report) last posted its earnings results on Monday, August 4th. The insurance provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. James River Group had a negative net margin of 13.50% and a negative return on equity of 1.97%. The firm had revenue of $152.61 million during the quarter, compared to the consensus estimate of $176.46 million. Sell-side analysts expect that James River Group Holdings, Ltd. will post -0.35 EPS 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 issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, September 15th. James River Group's dividend payout ratio (DPR) is -1.27%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of James River Group from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock 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.