Bank of New York Mellon Corp trimmed its position in James River Group Holdings Ltd (NASDAQ:JRVR) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 302,163 shares of the insurance provider’s stock after selling 2,468 shares during the quarter. Bank of New York Mellon Corp owned about 0.99% of James River Group worth $13,597,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of JRVR. Victory Capital Management Inc. raised its stake in James River Group by 938.8% in the first quarter. Victory Capital Management Inc. now owns 449,967 shares of the insurance provider’s stock worth $16,307,000 after buying an additional 406,651 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of James River Group by 17.9% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,205,362 shares of the insurance provider’s stock valued at $54,241,000 after purchasing an additional 182,822 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of James River Group in the 1st quarter valued at $4,436,000. Advisory Research Inc. raised its stake in James River Group by 45.7% during the 1st quarter. Advisory Research Inc. now owns 383,695 shares of the insurance provider’s stock worth $13,905,000 after acquiring an additional 120,435 shares in the last quarter. Finally, State Street Corp raised its stake in James River Group by 11.1% during the 1st quarter. State Street Corp now owns 940,853 shares of the insurance provider’s stock worth $34,097,000 after acquiring an additional 94,055 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

In related news, COO Robert Patrick Myron sold 65,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $44.70, for a total transaction of $2,905,500.00. Following the completion of the transaction, the chief operating officer now owns 253,405 shares of the company’s stock, valued at $11,327,203.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.

NASDAQ:JRVR opened at $46.16 on Wednesday. The firm has a 50 day simple moving average of $47.62 and a 200-day simple moving average of $40.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $1.41 billion, a PE ratio of -219.80 and a beta of 0.53. James River Group Holdings Ltd has a 1-year low of $25.34 and a 1-year high of $52.18.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $186.75 million during the quarter, compared to analyst estimates of $188.85 million. James River Group had a negative net margin of 0.38% and a positive return on equity of 4.42%. As a group, sell-side analysts expect that James River Group Holdings Ltd will post 2.08 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, September 11th. James River Group’s dividend payout ratio (DPR) is 85.71%.

A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of James River Group from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Saturday, August 15th. SunTrust Banks lifted their target price on shares of James River Group from $42.00 to $53.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. B. Riley lifted their target price on shares of James River Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 9th. TheStreet raised shares of James River Group from a “c” rating to a “b” rating in a report on Wednesday, July 29th. Finally, BidaskClub downgraded shares of James River Group from a “buy” rating to a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $50.50.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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Institutional Ownership by Quarter for James River Group (NASDAQ:JRVR)

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