Donald Smith & CO. Inc. Invests $10.74 Million in James River Group Holdings, Ltd. $JRVR

Donald Smith & CO. Inc. acquired a new stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,440,347 shares of the insurance provider’s stock, valued at approximately $10,738,000. Donald Smith & CO. Inc. owned approximately 5.28% of James River Group as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Zimmer Partners LP raised its stake in James River Group by 53.8% in the 3rd quarter. Zimmer Partners LP now owns 4,591,638 shares of the insurance provider’s stock valued at $25,484,000 after purchasing an additional 1,605,828 shares during the last quarter. Enstar Group LTD acquired a new stake in shares of James River Group during the 4th quarter worth about $16,477,000. RBF Capital LLC boosted its stake in shares of James River Group by 7.5% during the 1st quarter. RBF Capital LLC now owns 1,128,525 shares of the insurance provider’s stock worth $7,110,000 after purchasing an additional 78,525 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of James River Group by 10.5% during the second quarter. Geode Capital Management LLC now owns 1,002,499 shares of the insurance provider’s stock worth $5,875,000 after buying an additional 95,351 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of James River Group by 9.5% during the first quarter. Dimensional Fund Advisors LP now owns 845,243 shares of the insurance provider’s stock worth $5,325,000 after buying an additional 73,231 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

James River Group Trading Up 0.5%

Shares of JRVR opened at $4.05 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $187.27 million, a P/E ratio of 10.66 and a beta of -0.20. The stock’s fifty day simple moving average is $4.39 and its 200 day simple moving average is $5.27. James River Group Holdings, Ltd. has a twelve month low of $3.76 and a twelve month high of $7.20.

James River Group (NASDAQ:JRVR) last issued its earnings results on Tuesday, August 11th. The insurance provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). James River Group had a net margin of 4.68% and a return on equity of 9.93%. The firm had revenue of $161.34 million during the quarter, compared to analyst estimates of $135.50 million. On average, equities research analysts forecast that James River Group Holdings, Ltd. will post 0.65 earnings per share for the current year.

James River Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. James River Group’s payout ratio is currently 10.53%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Zacks Research raised shares of James River Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen raised James River Group from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. UBS Group decreased their price objective on James River Group from $4.75 to $4.00 and set a “neutral” rating on the stock in a report on Monday. Truist Financial dropped their target price on James River Group from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, August 12th. Finally, Weiss Ratings raised James River Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $5.75.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.