Cubist Systematic Strategies LLC Buys New Shares in James River Group Holdings Ltd (NASDAQ:JRVR)

Cubist Systematic Strategies LLC bought a new stake in James River Group Holdings Ltd (NASDAQ:JRVR) in the 2nd quarter, Holdings Channel.com reports. The fund bought 6,662 shares of the insurance provider’s stock, valued at approximately $312,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Morgan Stanley increased its stake in James River Group by 39.1% in the second quarter. Morgan Stanley now owns 140,003 shares of the insurance provider’s stock valued at $6,566,000 after purchasing an additional 39,372 shares during the last quarter. AQR Capital Management LLC increased its stake in James River Group by 12.1% in the second quarter. AQR Capital Management LLC now owns 8,395 shares of the insurance provider’s stock valued at $394,000 after purchasing an additional 906 shares during the last quarter. Man Group plc increased its stake in James River Group by 13.3% in the second quarter. Man Group plc now owns 10,403 shares of the insurance provider’s stock valued at $488,000 after purchasing an additional 1,223 shares during the last quarter. Bank of America Corp DE increased its stake in James River Group by 1.0% in the second quarter. Bank of America Corp DE now owns 80,014 shares of the insurance provider’s stock valued at $3,752,000 after purchasing an additional 809 shares during the last quarter. Finally, Invesco Ltd. increased its stake in James River Group by 668.2% in the second quarter. Invesco Ltd. now owns 817,575 shares of the insurance provider’s stock valued at $38,345,000 after purchasing an additional 711,141 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Several research firms recently commented on JRVR. SunTrust Banks lowered James River Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $55.00 to $40.00 in a research note on Wednesday. Zacks Investment Research lowered James River Group from a “hold” rating to a “strong sell” rating in a research note on Saturday. ValuEngine upgraded James River Group from a “hold” rating to a “buy” rating in a research note on Friday. B. Riley lowered James River Group from a “neutral” rating to a “sell” rating and dropped their target price for the company from $45.00 to $40.00 in a research note on Wednesday. Finally, BidaskClub lowered James River Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. James River Group presently has a consensus rating of “Hold” and an average target price of $42.00.

Shares of NASDAQ:JRVR opened at $37.92 on Friday. The firm has a market capitalization of $1.15 billion, a PE ratio of 16.27 and a beta of 0.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50-day moving average of $49.10 and a two-hundred day moving average of $45.93. James River Group Holdings Ltd has a 12 month low of $34.08 and a 12 month high of $52.18.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. The company had revenue of $220.37 million during the quarter, compared to analyst estimates of $218.10 million. James River Group had a return on equity of 10.62% and a net margin of 8.50%. As a group, research analysts anticipate that James River Group Holdings Ltd will post 2.67 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 3.16%. James River Group’s dividend payout ratio is presently 51.50%.

James River Group Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its 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.

See Also: What does it mean to hold a stock in street name?

Want to see what other hedge funds are holding JRVR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for James River Group Holdings Ltd (NASDAQ:JRVR).

Institutional Ownership by Quarter for James River Group (NASDAQ:JRVR)

Receive News & Ratings for James River Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for James River Group and related companies with MarketBeat.com's FREE daily email newsletter.