Bank of New York Mellon Corp Has $5.75 Million Stake in James River Group Holdings, Ltd. (JRVR)
Bank of New York Mellon Corp lifted its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 57.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 144,752 shares of the insurance provider’s stock after purchasing an additional 52,578 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.49% of James River Group Holdings worth $5,751,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in JRVR. SG Americas Securities LLC bought a new position in shares of James River Group Holdings during the 2nd quarter valued at $124,000. Bank of Montreal Can acquired a new stake in shares of James River Group Holdings in the 2nd quarter valued at $203,000. Neuberger Berman Group LLC acquired a new stake in shares of James River Group Holdings in the 1st quarter valued at $243,000. Invictus RG acquired a new stake in shares of James River Group Holdings in the 1st quarter valued at $328,000. Finally, American International Group Inc. lifted its stake in shares of James River Group Holdings by 7.1% in the 1st quarter. American International Group Inc. now owns 8,791 shares of the insurance provider’s stock valued at $377,000 after purchasing an additional 585 shares during the last quarter. Institutional investors own 92.72% of the company’s stock.
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James River Group Holdings, Ltd. (NASDAQ:JRVR) opened at 41.61 on Wednesday. The firm has a market cap of $1.23 billion, a P/E ratio of 15.67 and a beta of 0.57. The firm’s 50-day moving average price is $40.11 and its 200 day moving average price is $40.49. James River Group Holdings, Ltd. has a one year low of $35.25 and a one year high of $46.20.
James River Group Holdings (NASDAQ:JRVR) last released its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $202.40 million during the quarter, compared to analyst estimates of $169.83 million. James River Group Holdings had a net margin of 11.45% and a return on equity of 10.80%. The company’s quarterly revenue was up 50.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. On average, equities research analysts forecast that James River Group Holdings, Ltd. will post $2.47 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.88%. James River Group Holdings’s payout ratio is 45.28%.
A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $42.00 price objective on shares of James River Group Holdings in a report on Friday, August 18th. BidaskClub lowered James River Group Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded James River Group Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, ValuEngine cut James River Group Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.25.
In other James River Group Holdings news, CEO Steven J. Hartman sold 19,736 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $39.42, for a total value of $777,993.12. Following the completion of the sale, the chief executive officer now owns 70,315 shares in the company, valued at $2,771,817.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven J. Hartman sold 5,264 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $38.91, for a total transaction of $204,822.24. Following the completion of the sale, the chief executive officer now owns 55,843 shares of the company’s stock, valued at approximately $2,172,851.13. The disclosure for this sale can be found here. 41.00% of the stock is currently owned by insiders.
James River Group Holdings Company Profile
James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.
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