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

Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR – Get Rating) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $30.80.

A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of James River Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 4th. JMP Securities cut their price target on shares of James River Group from $45.00 to $36.00 and set a “market outperform” rating for the company in a report on Tuesday, March 1st. Truist Financial upped their price target on shares of James River Group from $27.00 to $30.00 in a report on Tuesday, March 1st. Barclays upped their price target on shares of James River Group from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 12th. Finally, StockNews.com initiated coverage on shares of James River Group in a report on Thursday, March 31st. They set a “sell” rating for the company.

Shares of NASDAQ:JRVR opened at $22.28 on Tuesday. The stock’s 50 day simple moving average is $22.95. James River Group has a 12-month low of $19.76 and a 12-month high of $39.69. The firm has a market cap of $834.34 million, a price-to-earnings ratio of -4.29 and a beta of 0.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50.

James River Group (NASDAQ:JRVR – Get Rating) last announced its earnings results on Monday, February 28th. The insurance provider reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($2.27). James River Group had a negative return on equity of 24.27% and a negative net margin of 22.36%. The business had revenue of $207.34 million for the quarter, compared to analyst estimates of $198.57 million. During the same quarter in the previous year, the company earned ($0.95) EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts forecast that James River Group will post 1.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Monday, March 14th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Friday, March 11th. James River Group’s payout ratio is currently -3.85%.

In other James River Group news, CFO Sarah C. Doran purchased 4,800 shares of the company’s stock in a transaction dated Friday, March 4th. The stock was purchased at an average price of $20.16 per share, with a total value of $96,768.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank D’orazio purchased 50,000 shares of the company’s stock in a transaction dated Thursday, March 3rd. The shares were acquired at an average cost of $20.64 per share, with a total value of $1,032,000.00. The disclosure for this purchase can be found here. Insiders have bought 79,715 shares of company stock valued at $1,638,038 in the last ninety days. Insiders own 2.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in shares of James River Group by 26.0% during the fourth quarter. Teacher Retirement System of Texas now owns 7,370 shares of the insurance provider’s stock worth $212,000 after buying an additional 1,521 shares during the period. AlphaCrest Capital Management LLC acquired a new stake in shares of James River Group during the third quarter worth $252,000. ProShare Advisors LLC increased its position in shares of James River Group by 62.2% during the fourth quarter. ProShare Advisors LLC now owns 9,169 shares of the insurance provider’s stock worth $265,000 after buying an additional 3,515 shares during the period. Jefferies Group LLC acquired a new stake in James River Group in the third quarter worth $268,000. Finally, Diversified Trust Co grew its holdings in James River Group by 8.2% in the first quarter. Diversified Trust Co now owns 10,825 shares of the insurance provider’s stock worth $268,000 after purchasing an additional 820 shares during the period. Institutional investors own 98.78% of the company’s stock.

About James River Group (Get Rating)

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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