BlackRock Fund Advisors recently announced the acquisition of new stake in James River Group Holdings Ltd. (NASDAQ:JRVR). The institutional investor has increased its shareholding in the Financial company by 0.23% to 5.17 million shares with purchase of 12112.0 shares. This fresh investment now brings its stake to 13.81% valued currently at $108.17 million. In addition, T. Rowe Price Investment Manageme raised its holdings by 3.31 million to 3.31 million shares. And The Vanguard Group, Inc. has lifted its position by 1.19% or 28742.0 shares – to 2.45 million shares.
With over 0.41 million James River Group Holdings Ltd. (JRVR) shares trading Friday and a closing price of $21.06 on the day, the dollar volume was approximately $8.53 million. The shares have shown a negative half year performance of -7.43% and its price on 01/20/23 lost nearly -3.75%. Currently, there are 37.45M common shares owned by the public and among those 36.29M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for JRVR have a consensus price objective of $30.42. The analysts have set the share’s price value over the next 12 months at a high of $36.00 and a low of $22.00. The average price target is 30.77% above its recent price level and an upside to the estimated low will see the stock gain 4.27% over that period. But an upside of 41.5% will see the stock hit the forecast high price target while median target price for the stock is $31.00.
Insiders at the company have transacted a total of 51 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 361,025 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 26,018 shares.
The top 3 mutual fund holders in James River Group Holdings Ltd. are iShares Core S&P Small Cap ETF, T Rowe Price Small Cap Value Fund, and Undiscovered Managers Behavioral. iShares Core S&P Small Cap ETF owns 2.64 million shares of the company’s stock, all valued at over $55.1 million. T Rowe Price Small Cap Value Fund bought 0.18 million shares to see its total holdings expand to 2.28 million shares valued at over $47.75 million and representing 6.10% of the shares outstanding. Undiscovered Managers Behavioral sold 10150.0 shares to bring its total holdings to over 1.27 million shares at a value of $26.66 million. Undiscovered Managers Behavioral now owns shares totaling to 3.40% of the shares outstanding.
Shares of James River Group Holdings Ltd. (NASDAQ: JRVR) opened at $22.13, up $0.25 from a prior closing price of $21.88. However, the script later moved the day high at 22.13, down -3.75%. The company’s stock has a 5-day price change of -1.86% and -6.15% over the past three months. JRVR shares are trading 0.72% year to date (YTD), with the 12-month market performance down to -24.54% lower. It has a 12-month low price of $19.76 and touched a high of $29.52 over the same period. JRVR has an average intraday trading volume of 195.82K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.19%, -6.68%, and -10.79% respectively.
Institutional ownership of James River Group Holdings Ltd. (NASDAQ: JRVR) 37.45M shares outstanding. Mutual fund holders own 38.22%, while other institutional holders and individual stakeholders account for 60.99% and 21.20% respectively.
It has a market capitalization of $819.66M and a beta (3y monthly) value of 0.43. The earnings-per-share (ttm) stands at -$1.59. The company has a debt-to-equity ratio at 0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.44% over the week and 3.13% over the month.
Analysts forecast that James River Group Holdings Ltd. (JRVR) will achieve an EPS of $0.43 for the current quarter, $0.54 for the next quarter and $2.3 for 2023. The lowest estimate earnings-per-share for the quarter is $0.3 while analysts give the company a high EPS estimate of $0.58. Comparatively, EPS for the current quarter was -$0.72 a year ago. Earnings per share for the fiscal year are expected to increase by 134.70%, and 24.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate James River Group Holdings Ltd. (JRVR) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Keefe Bruyette coverage for the James River Group Holdings Ltd. (JRVR) stock in a research note released on November 12, 2021 offered a Outperform rating with a price target of $35. Truist was of a view on May 07, 2021 that the stock is Buy, while Compass Point gave the stock Buy rating on November 02, 2020, issuing a price target of $56. Compass Point on their part issued Neutral rating on September 18, 2020.