Verition Fund Management LLC Trims Stake in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Verition Fund Management LLC cut its stake in James River Group Holdings, Ltd. (NASDAQ:JRVR) by 19.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 30,426 shares of the insurance provider’s stock after selling 7,252 shares during the quarter. Verition Fund Management LLC’s holdings in James River Group were worth $191,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of JRVR. SG Americas Securities LLC purchased a new position in shares of James River Group in the 3rd quarter worth about $69,000. Sei Investments Co. purchased a new position in James River Group during the second quarter valued at $83,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of James River Group during the 3rd quarter valued at about $157,000. Pallas Capital Advisors LLC purchased a new stake in James River Group in the 2nd quarter worth approximately $170,000. Finally, BBR Partners LLC bought a new stake in James River Group during the 3rd quarter worth approximately $219,000. 95.21% of the stock is owned by institutional investors.

James River Group Stock Down 0.4 %

Shares of JRVR opened at $4.62 on Tuesday. The company has a market capitalization of $174.77 million, a PE ratio of -1.14 and a beta of 0.09. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.38. James River Group Holdings, Ltd. has a 12-month low of $4.35 and a 12-month high of $11.49. The business’s 50 day moving average is $5.57 and its 200 day moving average is $6.73.

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

James River Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, December 16th. James River Group’s payout ratio is -0.99%.

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.