Invesco Ltd. grew its position in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 1.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 388,957 shares of the insurance provider’s stock after purchasing an additional 6,603 shares during the quarter. Invesco Ltd.’s holdings in James River Group were worth $14,594,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in James River Group by 16.6% during the 2nd quarter. BlackRock Inc. now owns 5,243,265 shares of the insurance provider’s stock worth $196,728,000 after purchasing an additional 747,794 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in James River Group by 101.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,756,572 shares of the insurance provider’s stock worth $103,427,000 after purchasing an additional 1,389,914 shares in the last quarter. Vanguard Group Inc. increased its position in James River Group by 15.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,334,927 shares of the insurance provider’s stock worth $87,606,000 after purchasing an additional 318,455 shares in the last quarter. Champlain Investment Partners LLC increased its position in James River Group by 42.8% during the 2nd quarter. Champlain Investment Partners LLC now owns 1,923,595 shares of the insurance provider’s stock worth $72,173,000 after purchasing an additional 576,750 shares in the last quarter. Finally, Madison Avenue Partners LP bought a new stake in James River Group during the 2nd quarter worth approximately $58,864,000. Institutional investors own 94.45% of the company’s stock.
NASDAQ:JRVR opened at $28.58 on Thursday. The company has a fifty day moving average price of $33.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.47 and a current ratio of 0.47. James River Group Holdings, Ltd. has a 52 week low of $28.16 and a 52 week high of $56.10. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -7.02 and a beta of 0.37.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 31st. Investors of record on Monday, December 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.20%. James River Group’s payout ratio is presently -29.48%.
In related news, Director Thomas Lynn Brown bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 10th. The shares were bought at an average price of $29.16 per share, for a total transaction of $87,480.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.80% of the stock is owned by insiders.
JRVR has been the topic of a number of research reports. Keefe, Bruyette & Woods raised shares of James River Group from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $39.00 to $35.00 in a report on Friday, November 12th. Zacks Investment Research lowered shares of James River Group from a “hold” rating to a “strong sell” rating in a report on Friday, November 12th. Finally, B. Riley boosted their target price on shares of James River Group from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, October 1st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, James River Group presently has a consensus rating of “Buy” and a consensus target price of $47.00.
About James River Group
James River Group Holdings Ltd. engages in the ownership and operation of a group of specialty insurance and reinsurance companies. It operates through the following segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers E&S commercial lines liability and property insurance products.
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