Enstar Group LTD Acquires New Position in James River Group Holdings, Ltd. $JRVR

Enstar Group LTD acquired a new stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,590,765 shares of the insurance provider’s stock, valued at approximately $16,477,000. James River Group accounts for about 6.4% of Enstar Group LTD’s investment portfolio, making the stock its 6th largest holding. Enstar Group LTD owned about 0.06% of James River Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC lifted its position in James River Group by 173.9% in the fourth quarter. Clearstead Advisors LLC now owns 7,732 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 4,909 shares during the period. PharVision Advisers LLC purchased a new position in James River Group in the third quarter valued at about $59,000. R Squared Ltd purchased a new position in James River Group in the third quarter valued at about $60,000. Cerity Partners LLC purchased a new position in James River Group in the second quarter valued at about $61,000. Finally, M&T Bank Corp purchased a new position in James River Group in the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

James River Group Trading Down 1.4%

Shares of JRVR opened at $4.19 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $5.02 and a 200-day simple moving average of $5.96. James River Group Holdings, Ltd. has a 1-year low of $3.76 and a 1-year high of $7.20. The stock has a market cap of $193.73 million, a price-to-earnings ratio of 12.32 and a beta of -0.16.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Monday, May 4th. The insurance provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). James River Group had a return on equity of 10.79% and a net margin of 4.34%.The business had revenue of $151.38 million for the quarter, compared to analysts’ expectations of $155.07 million. Equities analysts forecast that James River Group Holdings, Ltd. will post 0.8 EPS for the current fiscal year.

James River Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, June 8th. James River Group’s dividend payout ratio (DPR) is 11.76%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial increased their target price on shares of James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings cut shares of James River Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Citizens Jmp reaffirmed a “market perform” rating on shares of James River Group in a report on Tuesday, May 5th. UBS Group cut shares of James River Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.00 to $4.75 in a report on Tuesday, May 19th. Finally, Citigroup cut shares of James River Group from a “hold” rating to a “market perform” rating in a report on Tuesday, May 5th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, James River Group currently has an average rating of “Reduce” and a consensus target price of $6.44.

James River Group 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.