Confluence Investment Management LLC Has $6.32 Million Position in James River Group Holdings, Ltd. (NASDAQ:JRVR)


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Confluence Investment Management LLC boosted its position in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 4.5% during the first quarter, Holdings Channel reports. The institutional investor owned 138,573 shares of the insurance provider’s stock after purchasing an additional 5,986 shares during the quarter. Confluence Investment Management LLC’s holdings in James River Group were worth $6,322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JRVR. Vantage Consulting Group Inc acquired a new position in James River Group during the 4th quarter worth approximately $42,000. Federated Hermes Inc. bought a new stake in shares of James River Group in the fourth quarter worth $60,000. Veriti Management LLC acquired a new position in James River Group during the fourth quarter worth $62,000. KBC Group NV acquired a new position in James River Group during the fourth quarter worth $91,000. Finally, SG Americas Securities LLC bought a new position in James River Group in the fourth quarter valued at $125,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

JRVR stock traded down $0.30 during trading hours on Thursday, reaching $46.83. The stock had a trading volume of 11 shares, compared to its average volume of 251,689. The stock has a 50-day simple moving average of $46.98 and a 200 day simple moving average of $47.85. James River Group Holdings, Ltd. has a fifty-two week low of $28.03 and a fifty-two week high of $57.41. The stock has a market capitalization of $1.44 billion, a PE ratio of 32.06 and a beta of 0.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.67 and a quick ratio of 0.67.

James River Group (NASDAQ:JRVR) last issued its earnings results on Friday, February 26th. The insurance provider reported ($0.95) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.45). James River Group had a net margin of 6.37% and a return on equity of 9.43%. On average, sell-side analysts forecast that James River Group Holdings, Ltd. will post 2.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were paid a $0.30 dividend. The ex-dividend date was Friday, March 12th. This represents a $1.20 annualized dividend and a yield of 2.56%. James River Group’s dividend payout ratio is 85.71%.

A number of research firms have recently commented on JRVR. Compass Point increased their price objective on shares of James River Group from $56.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 6th. TheStreet lowered James River Group from a “b” rating to a “c+” rating in a report on Thursday, February 25th. Finally, Zacks Investment Research upgraded James River Group from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Tuesday, March 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $56.20.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. The 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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