Texas Permanent School Fund boosted its holdings in shares of James River Group Holdings Ltd (NASDAQ:JRVR) by 4.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 20,416 shares of the insurance provider’s stock after buying an additional 815 shares during the period. Texas Permanent School Fund’s holdings in James River Group were worth $818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of JRVR. Bank of Montreal Can boosted its position in James River Group by 88.9% during the 4th quarter. Bank of Montreal Can now owns 752 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 354 shares during the period. Meeder Asset Management Inc. lifted its position in shares of James River Group by 1,221.7% during the fourth quarter. Meeder Asset Management Inc. now owns 912 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 843 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of James River Group by 38.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 972 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 271 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of James River Group during the fourth quarter worth about $89,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of James River Group during the first quarter worth about $207,000. 97.67% of the stock is currently owned by institutional investors.

Shares of James River Group stock traded down $0.06 during trading on Wednesday, hitting $44.80. 207 shares of the company’s stock traded hands, compared to its average volume of 191,274. James River Group Holdings Ltd has a twelve month low of $34.08 and a twelve month high of $46.30. The firm has a market cap of $1.35 billion, a P/E ratio of 19.24 and a beta of 0.58. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.33 and a current ratio of 0.33.

James River Group (NASDAQ:JRVR) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.09. The company had revenue of $214.13 million during the quarter, compared to the consensus estimate of $216.00 million. James River Group had a net margin of 8.05% and a return on equity of 10.63%. On average, equities analysts forecast that James River Group Holdings Ltd will post 2.6 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 10th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, June 7th. James River Group’s dividend payout ratio is currently 51.50%.

In other news, insider Michael E. Crow sold 7,019 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $40.69, for a total value of $285,603.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.50% of the stock is currently owned by insiders.

Several brokerages have commented on JRVR. Zacks Investment Research upgraded shares of James River Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, May 8th. ValuEngine upgraded shares of James River Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. BidaskClub upgraded shares of James River Group from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. B. Riley restated a “neutral” rating on shares of James River Group in a report on Friday, March 1st. Finally, Compass Point lowered shares of James River Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $47.00 to $39.00 in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $42.00.

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James River Group Company 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.

Read More: Diluted Earnings Per Share

Want to see what other hedge funds are holding JRVR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for James River Group Holdings Ltd (NASDAQ:JRVR).

Institutional Ownership by Quarter for James River Group (NASDAQ:JRVR)

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