Bank of New York Mellon Corp raised its stake in James River Group Holdings Ltd (NASDAQ:JRVR) by 11.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 319,152 shares of the insurance provider’s stock after acquiring an additional 32,122 shares during the quarter. Bank of New York Mellon Corp’s holdings in James River Group were worth $12,539,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System acquired a new position in shares of James River Group during the 2nd quarter worth approximately $201,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of James River Group during the 2nd quarter worth approximately $203,000. Teacher Retirement System of Texas acquired a new position in shares of James River Group during the 2nd quarter worth approximately $237,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of James River Group during the 2nd quarter worth approximately $248,000. Finally, Voya Investment Management LLC raised its stake in shares of James River Group by 19.2% during the 2nd quarter. Voya Investment Management LLC now owns 9,544 shares of the insurance provider’s stock worth $375,000 after buying an additional 1,536 shares during the period. 99.77% of the stock is owned by institutional investors.
Shares of JRVR stock opened at $37.97 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $1.12 billion, a PE ratio of 24.18 and a beta of 0.59. James River Group Holdings Ltd has a 1-year low of $32.17 and a 1-year high of $43.47.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, December 13th. James River Group’s payout ratio is 76.43%.
Several research analysts have recently weighed in on the company. BidaskClub raised James River Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Zacks Investment Research downgraded James River Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. ValuEngine raised James River Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, Keefe, Bruyette & Woods downgraded James River Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $45.00 to $40.00 in a research note on Sunday, November 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $41.00.
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 property and liability insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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