James River Group Holdings, Ltd. (NASDAQ:JRVR) Receives Average Rating of “Hold” from Brokerages

James River Group Holdings, Ltd. (NASDAQ:JRVR) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.17.

JRVR has been the topic of several research analyst reports. JMP Securities dropped their price objective on James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 6th. Truist Financial dropped their price target on James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Compass Point reduced their price objective on shares of James River Group from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.

James River Group Stock Performance

JRVR stock opened at $6.49 on Friday. James River Group has a twelve month low of $6.14 and a twelve month high of $15.88. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.37. The company has a market cap of $245.49 million, a P/E ratio of -3.11 and a beta of 0.17. The business’s fifty day moving average is $7.47 and its 200-day moving average is $7.94.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Monday, August 5th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.09). The business had revenue of $188.30 million during the quarter, compared to the consensus estimate of $169.39 million. James River Group had a positive return on equity of 11.66% and a negative net margin of 12.79%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share. Equities research analysts forecast that James River Group will post 1.85 EPS for the current year.

James River Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 3.08%. James River Group’s dividend payout ratio is -9.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in JRVR. Charles Schwab Investment Management Inc. lifted its holdings in shares of James River Group by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 576,293 shares of the insurance provider’s stock worth $5,325,000 after acquiring an additional 60,609 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in James River Group by 50.5% during the fourth quarter. BNP Paribas Financial Markets now owns 70,307 shares of the insurance provider’s stock worth $650,000 after purchasing an additional 23,597 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of James River Group in the 4th quarter worth about $357,000. Trexquant Investment LP increased its position in shares of James River Group by 135.6% during the 4th quarter. Trexquant Investment LP now owns 105,551 shares of the insurance provider’s stock valued at $975,000 after purchasing an additional 60,741 shares during the last quarter. Finally, Aigen Investment Management LP raised its holdings in shares of James River Group by 172.8% during the 4th quarter. Aigen Investment Management LP now owns 30,088 shares of the insurance provider’s stock valued at $278,000 after buying an additional 19,057 shares in the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

About James River Group

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.