James River Group (NASDAQ:JRVR) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of James River Group (NASDAQ:JRVR – Free Report) from a hold rating to a buy rating in a report released on Saturday.

A number of other equities analysts also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of James River Group in a report on Monday, December 29th. Raymond James Financial set a $7.00 price target on shares of James River Group in a research report on Tuesday, December 16th. Compass Point downgraded shares of James River Group from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research report on Tuesday, December 16th. Finally, Zacks Research lowered shares of James River Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, James River Group currently has a consensus rating of “Hold” and an average target price of $6.40.

Read Our Latest Stock Analysis on James River Group

James River Group Stock Performance

Shares of James River Group stock opened at $6.61 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.64 and a current ratio of 0.64. James River Group has a 1 year low of $3.00 and a 1 year high of $6.89. The firm’s 50-day simple moving average is $6.16 and its 200-day simple moving average is $5.75. The firm has a market cap of $303.86 million, a PE ratio of -3.18 and a beta of -0.02.

James River Group (NASDAQ:JRVR – Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The insurance provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.06. The firm had revenue of $172.74 million during the quarter, compared to analyst estimates of $179.21 million. James River Group had a positive return on equity of 7.11% and a negative net margin of 7.64%. Equities analysts forecast that James River Group will post -0.35 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, December 15th. James River Group’s dividend payout ratio is currently -1.92%.

Hedge Funds Weigh In On James River Group

Hedge funds have recently modified their holdings of the company. Cerity Partners LLC acquired a new position in shares of James River Group in the 2nd quarter worth approximately $61,000. PharVision Advisers LLC acquired a new stake in shares of James River Group during the third quarter valued at approximately $59,000. R Squared Ltd acquired a new stake in shares of James River Group during the third quarter valued at approximately $60,000. BNP Paribas Financial Markets lifted its position in shares of James River Group by 43.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 13,211 shares of the insurance provider’s stock valued at $77,000 after acquiring an additional 3,971 shares in the last quarter. Finally, Sowell Financial Services LLC boosted its stake in James River Group by 15.4% in the 3rd quarter. Sowell Financial Services LLC now owns 15,000 shares of the insurance provider’s stock worth $83,000 after purchasing an additional 2,000 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

About James River Group

(Get Free Report)

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.

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