James River Group Holdings, Ltd. (JRVR) Short Interest Update

James River Group Holdings, Ltd. (NASDAQ:JRVR) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 149,753 shares, a decrease of 73.3% from the October 31st total of 560,668 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 364,907 shares, the days-to-cover ratio is presently 0.4 days.

Shares of James River Group (JRVR) opened at $39.58 on Friday. The company has a market capitalization of $1,186.54, a P/E ratio of 18.21 and a beta of 0.50. James River Group has a 12-month low of $37.24 and a 12-month high of $46.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.25 and a quick ratio of 0.25.

James River Group (NASDAQ:JRVR) last released its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.03. The company had revenue of $220.87 million for the quarter, compared to analyst estimates of $198.67 million. James River Group had a return on equity of 9.36% and a net margin of 8.98%. The firm’s revenue for the quarter was up 45.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. sell-side analysts anticipate that James River Group will post 2.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 8.08%. The ex-dividend date is Thursday, December 14th. This is a positive change from James River Group’s previous quarterly dividend of $0.30. James River Group’s dividend payout ratio is 52.63%.

JRVR has been the topic of several analyst reports. B. Riley reiterated a “buy” rating and issued a $47.00 target price on shares of James River Group in a research note on Tuesday, November 14th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $42.00 price target on shares of James River Group in a report on Thursday, September 21st. Zacks Investment Research raised James River Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. JMP Securities started coverage on James River Group in a report on Tuesday, October 17th. They set an “outperform” rating and a $47.00 target price for the company. Finally, ValuEngine downgraded James River Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. James River Group currently has a consensus rating of “Hold” and an average price target of $47.00.

In other James River Group news, Director David Zwillinger sold 2,600,000 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $38.10, for a total value of $99,060,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bryan Martin sold 450,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $38.10, for a total value of $17,145,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,450,000 shares of company stock valued at $131,445,000 over the last quarter. Corporate insiders own 41.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of JRVR. Teachers Advisors LLC lifted its stake in James River Group by 27.2% during the 1st quarter. Teachers Advisors LLC now owns 29,110 shares of the insurance provider’s stock worth $1,248,000 after acquiring an additional 6,228 shares in the last quarter. Vanguard Group Inc. increased its holdings in James River Group by 8.7% during the 1st quarter. Vanguard Group Inc. now owns 703,798 shares of the insurance provider’s stock worth $30,165,000 after purchasing an additional 56,238 shares during the period. Geode Capital Management LLC increased its holdings in James River Group by 9.9% during the 1st quarter. Geode Capital Management LLC now owns 152,178 shares of the insurance provider’s stock worth $6,522,000 after purchasing an additional 13,762 shares during the period. Dimensional Fund Advisors LP increased its holdings in James River Group by 35.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 266,973 shares of the insurance provider’s stock worth $11,442,000 after purchasing an additional 69,274 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in James River Group by 37.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 97,001 shares of the insurance provider’s stock worth $4,158,000 after purchasing an additional 26,393 shares during the period. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

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About James River Group

James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.

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