James River Group (NASDAQ:JRVR) Upgraded by Zacks Research to Hold Rating

by · The Cerbat Gem

James River Group (NASDAQ:JRVR – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Citigroup cut shares of James River Group from a “hold” rating to a “market perform” rating in a report on Tuesday, May 5th. Wall Street Zen raised James River Group from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings lowered James River Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Citizens Jmp reaffirmed a “market perform” rating on shares of James River Group in a research note on Tuesday, May 5th. Finally, UBS Group cut shares of James River Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.00 to $4.75 in a research report on Tuesday, May 19th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $6.44.

Check Out Our Latest Analysis on James River Group

James River Group Trading Up 1.6%

NASDAQ JRVR opened at $4.56 on Monday. James River Group has a one year low of $3.76 and a one year high of $7.20. The business’s fifty day moving average is $4.32 and its 200-day moving average is $5.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $210.85 million, a price-to-earnings ratio of 13.41 and a beta of -0.19.

James River Group (NASDAQ:JRVR – Get Free Report) last released its earnings results on Monday, May 4th. The insurance provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). James River Group had a net margin of 4.34% and a return on equity of 10.79%. The company had revenue of $151.38 million during the quarter, compared to analysts’ expectations of $155.07 million. Equities research analysts predict that James River Group will post 0.8 EPS for the current year.

Institutional Investors Weigh In On James River Group

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of James River Group by 13.0% in the first quarter. Jane Street Group LLC now owns 25,297 shares of the insurance provider’s stock valued at $106,000 after acquiring an additional 2,918 shares during the period. Geode Capital Management LLC boosted its holdings in shares of James River Group by 10.5% during the second quarter. Geode Capital Management LLC now owns 1,002,499 shares of the insurance provider’s stock worth $5,875,000 after purchasing an additional 95,351 shares during the period. Invesco Ltd. grew its stake in shares of James River Group by 7.6% in the second quarter. Invesco Ltd. now owns 298,243 shares of the insurance provider’s stock worth $1,748,000 after purchasing an additional 20,954 shares during the last quarter. First Trust Advisors LP grew its stake in shares of James River Group by 26.2% in the second quarter. First Trust Advisors LP now owns 148,153 shares of the insurance provider’s stock worth $868,000 after purchasing an additional 30,802 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in James River Group during the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

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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