Jennison Associates LLC Trims Position in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Jennison Associates LLC reduced its holdings in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,154,702 shares of the insurance provider’s stock after selling 40,300 shares during the period. Jennison Associates LLC owned about 3.07% of James River Group worth $10,669,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in James River Group by 475.9% during the third quarter. PNC Financial Services Group Inc. now owns 4,394 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 3,631 shares during the period. Quantbot Technologies LP boosted its stake in shares of James River Group by 68.7% in the third quarter. Quantbot Technologies LP now owns 4,845 shares of the insurance provider’s stock worth $74,000 after buying an additional 1,973 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in James River Group by 89.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,775 shares of the insurance provider’s stock worth $119,000 after acquiring an additional 3,668 shares during the period. CenterBook Partners LP acquired a new stake in James River Group during the third quarter worth about $159,000. Finally, Aigen Investment Management LP purchased a new position in James River Group during the third quarter valued at approximately $169,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on JRVR. Keefe, Bruyette & Woods cut their target price on shares of James River Group from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Thursday, March 7th. UBS Group decreased their price objective on shares of James River Group from $34.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Truist Financial dropped their target price on James River Group from $15.00 to $11.00 and set a “hold” rating on the stock in a research report on Friday, March 1st. Compass Point raised James River Group from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a report on Friday, March 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $15.00 price objective on shares of James River Group in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, James River Group currently has an average rating of “Hold” and a consensus price target of $12.33.

James River Group Trading Down 1.3 %

Shares of James River Group stock opened at $9.16 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.55 and a quick ratio of 0.55. The business has a 50 day simple moving average of $9.12 and a two-hundred day simple moving average of $9.96. James River Group Holdings, Ltd. has a 12 month low of $6.35 and a 12 month high of $22.15.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Wednesday, February 28th. The insurance provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). James River Group had a negative net margin of 10.80% and a positive return on equity of 13.75%. The firm had revenue of $218.10 million during the quarter, compared to analysts’ expectations of $216.80 million. As a group, equities research analysts anticipate that James River Group Holdings, Ltd. will post 1.75 EPS for the current year.

James River Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, March 8th. This represents a $0.20 annualized dividend and a yield of 2.18%. James River Group’s dividend payout ratio is presently -8.85%.

James River Group Profile

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.