Bronte Capital Management Pty Ltd. Boosts Stake in James River Group Holdings, Ltd. $JRVR

Bronte Capital Management Pty Ltd. boosted its holdings in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 174.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 338,961 shares of the insurance provider’s stock after acquiring an additional 215,386 shares during the period. Bronte Capital Management Pty Ltd.’s holdings in James River Group were worth $2,135,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in JRVR. Flax Pond Capital LLC bought a new position in shares of James River Group during the 4th quarter valued at $3,427,000. Occudo Quantitative Strategies LP purchased a new position in shares of James River Group during the 4th quarter valued at $189,000. Odyssean LLC purchased a new position in shares of James River Group in the fourth quarter valued at about $141,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of James River Group in the fourth quarter valued at about $139,000. Finally, Jump Financial LLC purchased a new position in shares of James River Group in the fourth quarter valued at about $76,000. 95.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on JRVR. Weiss Ratings cut James River Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Zacks Research lowered shares of James River Group from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of James River Group from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Citigroup downgraded shares of James River Group from a “hold” rating to a “market perform” rating in a report on Tuesday, May 5th. Finally, UBS Group lowered shares of James River Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $8.00 to $4.75 in a research report on Tuesday, May 19th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $6.44.

James River Group Stock Up 1.6%

Shares of JRVR opened at $4.46 on Friday. The stock has a market capitalization of $206.23 million, a price-to-earnings ratio of 13.12 and a beta of -0.19. James River Group Holdings, Ltd. has a 1 year low of $3.76 and a 1 year high of $7.20. The business’s 50 day simple moving average is $4.43 and its 200-day simple moving average is $5.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.64 and a quick ratio of 0.64.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, May 4th. The insurance provider reported $0.12 earnings per share 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 business had revenue of $151.38 million during the quarter, compared to analysts’ expectations of $155.07 million. As a group, equities analysts expect that James River Group Holdings, Ltd. will post 0.8 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 8th were issued a $0.01 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.9%. James River Group’s payout ratio is 11.76%.

About James River Group

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.