James River Group Holdings, Ltd. (NASDAQ:JRVR) Short Interest Update

James River Group Holdings, Ltd. (NASDAQ:JRVR) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 961,900 shares, a drop of 12.6% from the September 30th total of 1,100,000 shares. Based on an average daily trading volume, of 269,500 shares, the short-interest ratio is currently 3.6 days. Currently, 2.6% of the company’s stock are sold short.

James River Group Stock Performance

Shares of NASDAQ JRVR traded down $0.07 during trading on Thursday, reaching $6.22. 216,100 shares of the stock traded hands, compared to its average volume of 682,539. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $235.28 million, a P/E ratio of -2.98 and a beta of 0.16. James River Group has a 52-week low of $6.12 and a 52-week high of $15.02. The company has a 50-day moving average of $6.67 and a 200-day moving average of $7.51.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Monday, August 5th. The insurance provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). James River Group had a negative net margin of 12.79% and a positive return on equity of 11.66%. The business had revenue of $188.30 million for the quarter, compared to analysts’ expectations of $169.39 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Analysts forecast that James River Group will post 1.85 EPS for the current fiscal year.

James River Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.22%. James River Group’s payout ratio is -9.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on JRVR shares. Compass Point cut their target price on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JMP Securities reduced their price objective on James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 6th. Finally, Truist Financial decreased their target price on James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.17.

Institutional Trading of James River Group

Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in shares of James River Group by 2,512.5% in the second quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock worth $10,644,000 after buying an additional 1,324,309 shares in the last quarter. Vanguard Group Inc. lifted its stake in James River Group by 22.9% in the 1st quarter. Vanguard Group Inc. now owns 2,579,287 shares of the insurance provider’s stock worth $23,987,000 after purchasing an additional 479,823 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of James River Group by 143.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 512,968 shares of the insurance provider’s stock valued at $4,771,000 after purchasing an additional 302,257 shares in the last quarter. Marshall Wace LLP grew its position in shares of James River Group by 39.2% during the 2nd quarter. Marshall Wace LLP now owns 469,963 shares of the insurance provider’s stock valued at $3,633,000 after purchasing an additional 132,300 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of James River Group by 232.2% in the second quarter. American Century Companies Inc. now owns 171,529 shares of the insurance provider’s stock worth $1,326,000 after buying an additional 119,901 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.