Donald Smith & CO. Inc. Grows Position in James River Group Holdings, Ltd. $JRVR

Donald Smith & CO. Inc. raised its holdings in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) by 434.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,671,220 shares of the insurance provider’s stock after buying an additional 1,358,785 shares during the quarter. Donald Smith & CO. Inc. owned about 3.64% of James River Group worth $10,629,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Clearstead Advisors LLC grew its holdings in shares of James River Group by 173.9% during the fourth quarter. Clearstead Advisors LLC now owns 7,732 shares of the insurance provider’s stock worth $49,000 after buying an additional 4,909 shares in the last quarter. PharVision Advisers LLC purchased a new stake in shares of James River Group during the third quarter worth $59,000. R Squared Ltd purchased a new stake in shares of James River Group during the third quarter worth $60,000. Cerity Partners LLC acquired a new position in shares of James River Group during the 2nd quarter valued at about $61,000. Finally, M&T Bank Corp acquired a new position in shares of James River Group during the 4th quarter valued at about $65,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

James River Group Trading Up 5.3%

Shares of JRVR stock opened at $4.18 on Thursday. The company’s 50-day moving average price is $5.10 and its 200-day moving average price is $5.98. James River Group Holdings, Ltd. has a twelve month low of $3.76 and a twelve month high of $7.20. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. The stock has a market cap of $193.27 million, a price-to-earnings ratio of 12.29 and a beta of -0.16.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, May 4th. The insurance provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). James River Group had a net margin of 4.34% and a return on equity of 10.79%. The company had revenue of $151.38 million during the quarter, compared to analyst estimates of $155.07 million. As a group, equities analysts predict that James River Group Holdings, Ltd. will post 0.8 earnings per share for the current year.

James River Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 8th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.04 dividend on an annualized basis and a yield of 1.0%. James River Group’s dividend payout ratio is presently 11.76%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JRVR. Truist Financial boosted their price target on shares of James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings cut shares of James River Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. UBS Group cut shares of James River Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $4.75 in a research report on Tuesday, May 19th. Citizens Jmp reissued a “market perform” rating on shares of James River Group in a research report on Tuesday, May 5th. Finally, Wall Street Zen cut shares of James River Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $6.44.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.