James River Group (NASDAQ:JRVR) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of James River Group (NASDAQ:JRVRGet Rating) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

JRVR has been the subject of several other research reports. B. Riley lowered their price target on James River Group from $42.00 to $31.00 and set a buy rating for the company in a research note on Friday, March 4th. Barclays boosted their price target on James River Group from $21.00 to $22.00 and gave the company an equal weight rating in a research note on Tuesday, April 12th. JMP Securities lowered their price target on James River Group from $45.00 to $36.00 and set a market outperform rating for the company in a research note on Tuesday, March 1st. Truist Financial boosted their price target on James River Group from $27.00 to $30.00 in a research note on Tuesday, March 1st. Finally, Zacks Investment Research raised James River Group from a hold rating to a buy rating and set a $28.00 price target for the company in a research note on Friday, May 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $30.33.

Shares of JRVR opened at $25.99 on Wednesday. James River Group has a fifty-two week low of $19.76 and a fifty-two week high of $39.69. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average is $23.46 and its 200-day moving average is $25.96.

James River Group (NASDAQ:JRVRGet Rating) last issued its earnings results on Monday, February 28th. The insurance provider reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($2.27). The business had revenue of $207.34 million during the quarter, compared to analyst estimates of $198.57 million. James River Group had a negative net margin of 7.47% and a negative return on equity of 7.97%. James River Group’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.95) EPS. Sell-side analysts predict that James River Group will post 1.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Monday, June 13th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, June 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.77%. James River Group’s payout ratio is currently -12.74%.

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

Several hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. lifted its holdings in shares of James River Group by 1.7% during the third quarter. UBS Asset Management Americas Inc. now owns 28,575 shares of the insurance provider’s stock worth $1,078,000 after buying an additional 464 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of James River Group by 3.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 16,583 shares of the insurance provider’s stock valued at $478,000 after purchasing an additional 489 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of James River Group by 0.8% in the fourth quarter. Public Sector Pension Investment Board now owns 75,956 shares of the insurance provider’s stock valued at $2,188,000 after purchasing an additional 630 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of James River Group by 4.3% in the fourth quarter. New York State Teachers Retirement System now owns 19,560 shares of the insurance provider’s stock valued at $564,000 after purchasing an additional 800 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of James River Group by 8.2% in the first quarter. Diversified Trust Co now owns 10,825 shares of the insurance provider’s stock valued at $268,000 after purchasing an additional 820 shares in the last quarter. 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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