James River Group Holdings Ltd. (JRVR) Sees Strong Trading Volume
James River Group Holdings Ltd. (NASDAQ:JRVR) shares saw unusually-strong trading volume on Tuesday . Approximately 65,696 shares were traded during trading, an increase of 14% from the previous session’s volume of 57,547 shares.The stock last traded at $33.99 and had previously closed at $34.43.
Several equities research analysts have weighed in on JRVR shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $38.00 price target (up from $37.00) on shares of James River Group Holdings in a research report on Saturday, May 7th. Zacks Investment Research cut James River Group Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, April 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. James River Group Holdings presently has an average rating of “Buy” and a consensus target price of $37.50.
The company’s 50 day moving average price is $34.12 and its 200-day moving average price is $32.53. The firm has a market cap of $982.28 million and a PE ratio of 17.57.
James River Group Holdings (NASDAQ:JRVR) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. During the same period last year, the firm posted $0.40 earnings per share. The business earned $131.33 million during the quarter, compared to analyst estimates of $116.53 million. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that James River Group Holdings Ltd. will post $2.20 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Monday, June 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Thursday, June 9th.
Several hedge funds and institutional investors have bought and sold shares of the stock. Victory Capital Management Inc. acquired a new position in James River Group Holdings during the fourth quarter valued at approximately $19,685,000. State of Wisconsin Investment Board raised its position in James River Group Holdings by 24.7% in the fourth quarter. State of Wisconsin Investment Board now owns 311,736 shares of the company’s stock valued at $10,456,000 after buying an additional 61,736 shares during the period. Redwood Investments LLC increased its stake in shares of James River Group Holdings by 67.2% in the fourth quarter. Redwood Investments LLC now owns 79,536 shares of the company’s stock valued at $2,668,000 after buying an additional 31,975 shares in the last quarter. Finally, Boston Partners increased its stake in shares of James River Group Holdings by 3.2% in the fourth quarter. Boston Partners now owns 146,886 shares of the company’s stock valued at $4,927,000 after buying an additional 4,540 shares in the last quarter.
James River Group Holdings, Ltd. is an insurance holding company. The Company owns and operates a group of specialty insurance and reinsurance companies. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers excess and surplus commercial lines liability and property insurance.
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