Connor Clark & Lunn Investment Management Ltd. Has $836,000 Stock Holdings in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 36.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,372 shares of the insurance provider’s stock after selling 76,217 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.35% of James River Group worth $836,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of JRVR. Vanguard Group Inc. lifted its stake in shares of James River Group by 22.9% in the first quarter. Vanguard Group Inc. now owns 2,579,287 shares of the insurance provider’s stock valued at $23,987,000 after buying an additional 479,823 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of James River Group by 232.2% in the second quarter. American Century Companies Inc. now owns 171,529 shares of the insurance provider’s stock valued at $1,326,000 after buying an additional 119,901 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of James River Group by 143.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 512,968 shares of the insurance provider’s stock valued at $4,771,000 after buying an additional 302,257 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of James River Group in the third quarter valued at $157,000. Finally, AQR Capital Management LLC lifted its stake in shares of James River Group by 2,512.5% in the second quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock valued at $10,644,000 after buying an additional 1,324,309 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on JRVR. Truist Financial dropped their price target on shares of James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Compass Point dropped their price target on shares of James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, JMP Securities dropped their price target on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, James River Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

James River Group Stock Performance

Shares of JRVR stock opened at $4.71 on Thursday. The firm has a market cap of $178.18 million, a price-to-earnings ratio of -1.14 and a beta of 0.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. James River Group Holdings, Ltd. has a 52 week low of $4.35 and a 52 week high of $11.49. The firm’s 50-day simple moving average is $6.06 and its two-hundred day simple moving average is $7.04.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Monday, November 11th. The insurance provider reported ($0.74) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.89). The company had revenue of $191.50 million during the quarter, compared to the consensus estimate of $137.28 million. James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. The business’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. As a group, equities analysts forecast that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current year.

James River Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.01 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.04 annualized dividend and a dividend yield of 0.85%. James River Group’s payout ratio is -4.94%.

James River Group Company 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.