November 10, 2019 at 4:08 pm

Oppenheimer Asset Management Inc. Sells 1,033 Shares of James River Group Holdings Ltd (NASDAQ:JRVR)

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Oppenheimer Asset Management Inc. lessened its stake in James River Group Holdings Ltd (NASDAQ:JRVR) by 6.6% in the third quarter, HoldingsChannel reports. The firm owned 14,664 shares of the insurance provider’s stock after selling 1,033 shares during the period. Oppenheimer Asset Management Inc.’s holdings in James River Group were worth $751,000 as of its most recent filing with the Securities and Exchange Commission.

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A number of other large investors also recently bought and sold shares of JRVR. Invesco Ltd. grew its position in James River Group by 668.2% in the 2nd quarter. Invesco Ltd. now owns 817,575 shares of the insurance provider’s stock worth $38,345,000 after purchasing an additional 711,141 shares during the period. Nuveen Asset Management LLC bought a new stake in James River Group in the 2nd quarter worth approximately $13,870,000. BlackRock Inc. grew its position in James River Group by 3.2% in the 2nd quarter. BlackRock Inc. now owns 4,429,582 shares of the insurance provider’s stock worth $207,749,000 after purchasing an additional 137,561 shares during the period. Allianz Asset Management GmbH grew its position in James River Group by 315.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 155,358 shares of the insurance provider’s stock worth $7,287,000 after purchasing an additional 117,980 shares during the period. Finally, California Public Employees Retirement System grew its position in James River Group by 318.5% in the 3rd quarter. California Public Employees Retirement System now owns 71,729 shares of the insurance provider’s stock worth $3,675,000 after purchasing an additional 54,590 shares during the period. 96.44% of the stock is owned by institutional investors and hedge funds.

Shares of James River Group stock opened at $34.68 on Friday. The stock has a market capitalization of $1.08 billion, a PE ratio of 14.88 and a beta of 0.44. James River Group Holdings Ltd has a 1-year low of $34.08 and a 1-year high of $52.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.31 and a quick ratio of 0.31. The company’s fifty day simple moving average is $41.57 and its 200-day simple moving average is $45.52.

James River Group (NASDAQ:JRVR) last posted its earnings results on Thursday, November 7th. The insurance provider reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.24. James River Group had a net margin of 8.50% and a return on equity of 10.62%. The firm had revenue of $231.47 million for the quarter, compared to the consensus estimate of $227.50 million. As a group, research analysts anticipate that James River Group Holdings Ltd will post 1.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.46%. James River Group’s dividend payout ratio (DPR) is presently 51.50%.

A number of equities research analysts have commented on JRVR shares. Zacks Investment Research downgraded shares of James River Group from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 12th. ValuEngine raised shares of James River Group from a “hold” rating to a “buy” rating in a research report on Friday, October 11th. TheStreet downgraded shares of James River Group from a “b-” rating to a “c” rating in a research report on Wednesday. BidaskClub downgraded shares of James River Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, SunTrust Banks cut shares of James River Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $55.00 to $40.00 in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $42.00.

James River Group 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 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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