BlackRock Inc. increased its stake in James River Group Holdings Ltd (NASDAQ:JRVR) by 69.0% during the second quarter, HoldingsChannel.com reports. The firm owned 4,155,688 shares of the insurance provider’s stock after acquiring an additional 1,696,697 shares during the period. BlackRock Inc. owned approximately 0.14% of James River Group worth $163,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wells Fargo & Company MN grew its position in shares of James River Group by 11.4% during the 1st quarter. Wells Fargo & Company MN now owns 357,198 shares of the insurance provider’s stock valued at $12,670,000 after acquiring an additional 36,458 shares during the period. Rhumbline Advisers grew its position in shares of James River Group by 159.4% during the 1st quarter. Rhumbline Advisers now owns 57,760 shares of the insurance provider’s stock valued at $2,049,000 after acquiring an additional 35,497 shares during the period. SG Americas Securities LLC acquired a new stake in shares of James River Group during the 1st quarter valued at about $160,000. Prudential Financial Inc. acquired a new stake in shares of James River Group during the 1st quarter valued at about $1,469,000. Finally, Swiss National Bank grew its position in shares of James River Group by 3.8% during the 1st quarter. Swiss National Bank now owns 43,699 shares of the insurance provider’s stock valued at $1,550,000 after acquiring an additional 1,600 shares during the period. Institutional investors own 98.58% of the company’s stock.

A number of brokerages recently weighed in on JRVR. BidaskClub lowered shares of James River Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. B. Riley raised their price target on shares of James River Group from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. Zacks Investment Research raised shares of James River Group from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Wednesday, July 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $46.00 price target on shares of James River Group in a research note on Friday, August 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. James River Group has a consensus rating of “Buy” and a consensus price target of $44.00.

Shares of James River Group stock opened at $42.19 on Friday. The stock has a market capitalization of $1.27 billion, a P/E ratio of 27.02 and a beta of 0.46. James River Group Holdings Ltd has a twelve month low of $32.17 and a twelve month high of $44.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.33 and a current ratio of 0.33.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings results on Thursday, August 2nd. The insurance provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The firm had revenue of $228.04 million for the quarter, compared to analyst estimates of $230.70 million. James River Group had a net margin of 4.88% and a return on equity of 7.01%. sell-side analysts forecast that James River Group Holdings Ltd will post 2.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 10th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, September 7th. James River Group’s dividend payout ratio is presently 76.43%.

James River Group Company Profile

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 property and liability 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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