Oppenheimer Asset Management Inc. Reduces Stock Holdings in James River Group Holdings Ltd (NASDAQ:JRVR)

Oppenheimer Asset Management Inc. decreased its position in James River Group Holdings Ltd (NASDAQ:JRVR) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,664 shares of the insurance provider’s stock after selling 1,033 shares during the period. Oppenheimer Asset Management Inc.’s holdings in James River Group were worth $751,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC purchased a new stake in shares of James River Group during the second quarter worth $249,000. 6 Meridian lifted its position in shares of James River Group by 1.7% during the second quarter. 6 Meridian now owns 17,884 shares of the insurance provider’s stock worth $839,000 after acquiring an additional 307 shares in the last quarter. Arizona State Retirement System lifted its position in shares of James River Group by 0.9% during the second quarter. Arizona State Retirement System now owns 46,789 shares of the insurance provider’s stock worth $2,194,000 after acquiring an additional 405 shares in the last quarter. Strs Ohio purchased a new stake in shares of James River Group during the second quarter worth $891,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of James River Group during the second quarter worth $543,000. Institutional investors and hedge funds own 96.44% of the company’s stock.

Shares of JRVR stock opened at $34.68 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.31 and a current ratio of 0.31. The business’s fifty day moving average is $41.57 and its 200 day moving average is $45.52. The company has a market capitalization of $1.08 billion, a PE ratio of 14.88 and a beta of 0.44. James River Group Holdings Ltd has a 52-week low of $34.08 and a 52-week high of $52.18.

James River Group (NASDAQ:JRVR) last posted its earnings results on Thursday, November 7th. The insurance provider reported ($0.73) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.97) by $0.24. The company had revenue of $231.47 million during the quarter, compared to analyst estimates of $227.50 million. James River Group had a net margin of 8.50% and a return on equity of 10.62%. On average, sell-side analysts forecast that James River Group Holdings Ltd will post 1.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.46%. James River Group’s dividend payout ratio is currently 51.50%.

JRVR has been the topic of several recent research reports. SunTrust Banks downgraded James River Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $55.00 to $40.00 in a research report on Wednesday, October 9th. BidaskClub downgraded James River Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. ValuEngine upgraded James River Group from a “hold” rating to a “buy” rating in a research report on Friday, October 11th. B. Riley downgraded James River Group from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $45.00 to $40.00 in a research report on Wednesday, October 9th. Finally, Zacks Investment Research downgraded James River Group from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $42.00.

James River Group Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its 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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