Short Interest in James River Group Holdings, Ltd. (NASDAQ:JRVR) Rises By 21.4%


James River Group Holdings, Ltd. (NASDAQ:JRVR) was the target of a significant increase in short interest during the month of May. As of May 28th, there was short interest totalling 1,870,000 shares, an increase of 21.4% from the May 13th total of 1,540,000 shares. Currently, 5.2% of the company’s shares are sold short. Based on an average trading volume of 420,600 shares, the short-interest ratio is presently 4.4 days.

NASDAQ JRVR opened at $36.53 on Friday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -18.08 and a beta of 0.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.57 and a current ratio of 0.57. The stock’s 50-day simple moving average is $39.68. James River Group has a one year low of $30.75 and a one year high of $57.41.

James River Group (NASDAQ:JRVR) last released its quarterly earnings results on Wednesday, May 5th. The insurance provider reported ($3.54) EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($4.13). The business had revenue of $182.98 million for the quarter, compared to analyst estimates of $183.25 million. James River Group had a negative return on equity of 5.33% and a negative net margin of 8.34%. As a group, analysts anticipate that James River Group will post -1.99 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Monday, June 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, June 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.28%. James River Group’s payout ratio is presently 44.28%.

Several large investors have recently bought and sold shares of the stock. The PNC Financial Services Group Inc. grew its holdings in shares of James River Group by 20.1% during the first quarter. The PNC Financial Services Group Inc. now owns 1,706 shares of the insurance provider’s stock worth $77,000 after buying an additional 285 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of James River Group by 8.1% during the first quarter. Mutual of America Capital Management LLC now owns 4,109 shares of the insurance provider’s stock worth $187,000 after buying an additional 309 shares in the last quarter. First Mercantile Trust Co. grew its holdings in shares of James River Group by 5.6% during the first quarter. First Mercantile Trust Co. now owns 6,190 shares of the insurance provider’s stock worth $283,000 after buying an additional 329 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of James River Group by 3.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 12,523 shares of the insurance provider’s stock worth $571,000 after buying an additional 414 shares in the last quarter. Finally, Pembroke Management LTD grew its stake in James River Group by 0.9% in the first quarter. Pembroke Management LTD now owns 51,069 shares of the insurance provider’s stock valued at $2,330,000 after purchasing an additional 438 shares in the last quarter. Institutional investors and hedge funds own 94.58% of the company’s stock.

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JRVR has been the topic of several recent research reports. Truist upgraded James River Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $56.00 to $43.00 in a report on Friday, May 7th. Truist Securities upgraded James River Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $56.00 to $43.00 in a report on Friday, May 7th. TheStreet cut James River Group from a “b” rating to a “c+” rating in a report on Thursday, February 25th. Finally, Zacks Investment Research lowered James River Group from a “hold” rating to a “sell” rating in a research note on Friday, May 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $54.50.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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