James River Group Holdings, Ltd. (JRVR) Shares Bought by First Trust Advisors LP
First Trust Advisors LP raised its position in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 45.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,222 shares of the insurance provider’s stock after purchasing an additional 8,765 shares during the period. First Trust Advisors LP owned about 0.10% of James River Group worth $1,171,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in James River Group during the 2nd quarter valued at $124,000. Advisor Group Inc. raised its position in James River Group by 11.0% during the 2nd quarter. Advisor Group Inc. now owns 3,937 shares of the insurance provider’s stock valued at $156,000 after purchasing an additional 391 shares in the last quarter. Legal & General Group Plc raised its position in James River Group by 21.4% during the 2nd quarter. Legal & General Group Plc now owns 4,248 shares of the insurance provider’s stock valued at $169,000 after purchasing an additional 748 shares in the last quarter. Bank of Montreal Can bought a new stake in James River Group during the 2nd quarter valued at $203,000. Finally, QS Investors LLC bought a new stake in James River Group during the 2nd quarter valued at $236,000. 96.25% of the stock is owned by institutional investors and hedge funds.
James River Group Holdings, Ltd. (NASDAQ:JRVR) opened at $40.58 on Monday. James River Group Holdings, Ltd. has a 1 year low of $37.24 and a 1 year high of $46.20. The stock has a market capitalization of $1,201.66, a PE ratio of 18.45 and a beta of 0.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.25 and a current ratio of 0.25.
James River Group (NASDAQ:JRVR) last announced its earnings results on Wednesday, November 1st. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.03. James River Group had a return on equity of 9.36% and a net margin of 8.98%. The company had revenue of $220.87 million for the quarter, compared to analyst estimates of $198.67 million. During the same period in the prior year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 45.9% compared to the same quarter last year. equities analysts predict that James River Group Holdings, Ltd. will post 2.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 7.89%. The ex-dividend date is Thursday, December 14th. This is an increase from James River Group’s previous quarterly dividend of $0.30. James River Group’s payout ratio is presently 52.63%.
Several research firms have recently commented on JRVR. B. Riley reissued a “buy” rating and issued a $47.00 price target on shares of James River Group in a research report on Tuesday, November 14th. Zacks Investment Research lowered James River Group from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. JMP Securities began coverage on James River Group in a research report on Tuesday, October 17th. They issued an “outperform” rating and a $47.00 price target for the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $42.00 price target on shares of James River Group in a research report on Thursday, September 21st. Finally, ValuEngine lowered James River Group from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $47.00.
In other James River Group news, Chairman J Adam Abram sold 400,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $38.10, for a total transaction of $15,240,000.00. Following the sale, the chairman now owns 368,247 shares in the company, valued at approximately $14,030,210.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bryan Martin sold 450,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $38.10, for a total value of $17,145,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,450,000 shares of company stock worth $131,445,000. Company insiders own 41.00% of the company’s stock.
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About James River Group
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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