Raymond James Financial Inc. Purchases New Position in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Raymond James Financial Inc. bought a new position in James River Group Holdings, Ltd. (NASDAQ:JRVR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,203 shares of the insurance provider’s stock, valued at approximately $84,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in James River Group by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 860,139 shares of the insurance provider’s stock valued at $4,190,000 after purchasing an additional 59,763 shares during the period. Boston Partners bought a new stake in James River Group during the fourth quarter worth $2,578,000. American Century Companies Inc. raised its position in James River Group by 6.7% during the fourth quarter. American Century Companies Inc. now owns 345,921 shares of the insurance provider’s stock worth $1,685,000 after acquiring an additional 21,594 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of James River Group by 29.6% in the fourth quarter. JPMorgan Chase & Co. now owns 253,680 shares of the insurance provider’s stock valued at $1,235,000 after purchasing an additional 57,889 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of James River Group by 8.1% in the fourth quarter. Renaissance Technologies LLC now owns 241,170 shares of the insurance provider’s stock valued at $1,174,000 after purchasing an additional 18,170 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

James River Group Price Performance

Shares of NASDAQ:JRVR opened at $4.84 on Wednesday. The company’s 50-day moving average is $4.29 and its 200 day moving average is $4.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $222.12 million, a P/E ratio of -1.20 and a beta of 0.02. James River Group Holdings, Ltd. has a fifty-two week low of $3.00 and a fifty-two week high of $8.99.

James River Group (NASDAQ:JRVR) last released its quarterly earnings data on Monday, May 5th. The insurance provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.05). The business had revenue of $172.29 million for the quarter, compared to analysts’ expectations of $184.15 million. James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. On average, equities research analysts forecast that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current year.

James River Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Monday, June 9th. James River Group’s dividend payout ratio (DPR) is presently -1.29%.

Wall Street Analysts Forecast Growth

JRVR has been the topic of a number of recent research reports. Citigroup reaffirmed a “hold” rating on shares of James River Group in a research report on Tuesday, March 11th. Compass Point dropped their price objective on shares of James River Group from $7.75 to $6.25 and set a “buy” rating for the company in a report on Monday, March 10th. JMP Securities restated a “market outperform” rating and set a $8.00 price target on shares of James River Group in a report on Tuesday, May 6th. Keefe, Bruyette & Woods lowered their price objective on shares of James River Group from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, March 13th. Finally, StockNews.com raised shares of James River Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.06.

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.