James River Group Holdings, Ltd. (NASDAQ:JRVR) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC decreased its holdings in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 852,230 shares of the insurance provider’s stock after selling 80,291 shares during the quarter. Granahan Investment Management LLC’s holdings in James River Group were worth $17,599,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in JRVR. Fuller & Thaler Asset Management Inc. grew its position in James River Group by 163.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,380,574 shares of the insurance provider’s stock worth $34,155,000 after buying an additional 857,178 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in James River Group in the 1st quarter worth approximately $9,219,000. Wellington Management Group LLP boosted its stake in James River Group by 41.9% in the 1st quarter. Wellington Management Group LLP now owns 934,787 shares of the insurance provider’s stock worth $23,126,000 after purchasing an additional 275,981 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in James River Group by 8.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,583,161 shares of the insurance provider’s stock worth $74,924,000 after purchasing an additional 274,337 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in James River Group by 1,833.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 271,682 shares of the insurance provider’s stock worth $5,681,000 after purchasing an additional 257,630 shares during the period. Institutional investors and hedge funds own 94.72% of the company’s stock.

James River Group Trading Up 3.2 %

Shares of NASDAQ:JRVR opened at $14.45 on Friday. The firm has a fifty day moving average of $16.69 and a two-hundred day moving average of $19.21. The firm has a market capitalization of $543.61 million, a P/E ratio of 15.54 and a beta of 0.39. James River Group Holdings, Ltd. has a 12-month low of $13.87 and a 12-month high of $26.60. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.37.

James River Group (NASDAQ:JRVR) last issued its earnings results on Monday, August 7th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $238.44 million during the quarter, compared to analyst estimates of $204.35 million. James River Group had a net margin of 4.57% and a return on equity of 14.65%. The company’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, equities analysts expect that James River Group Holdings, Ltd. will post 2.11 EPS for the current fiscal year.

James River Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 11th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, September 8th. James River Group’s payout ratio is presently 21.51%.

Analysts Set New Price Targets

A number of research firms recently commented on JRVR. Barclays decreased their price objective on shares of James River Group from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. StockNews.com lowered shares of James River Group from a “buy” rating to a “hold” rating in a research note on Thursday.

James River Group 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 in all states and the District of Columbia.