Barclays Boosts James River Group (NASDAQ:JRVR) Price Target to $24.00

James River Group (NASDAQ:JRVR – Get Rating) had its price objective lifted by Barclays from $22.00 to $24.00 in a report published on Wednesday morning, The Fly reports. Barclays currently has an equal weight rating on the insurance provider’s stock.

Several other research analysts have also recently issued reports on JRVR. StockNews.com upgraded shares of James River Group from a sell rating to a hold rating in a report on Tuesday, November 8th. Compass Point cut shares of James River Group from a buy rating to a neutral rating and cut their target price for the stock from $30.00 to $28.50 in a report on Wednesday, November 2nd.

James River Group Stock Down 0.3 %

Shares of NASDAQ JRVR opened at $24.43 on Wednesday. James River Group has a one year low of $19.76 and a one year high of $26.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.54 and a quick ratio of 0.59. The firm’s 50 day simple moving average is $22.14 and its two-hundred day simple moving average is $23.00. The stock has a market capitalization of $916.61 million, a P/E ratio of 41.41 and a beta of 0.39.

James River Group (NASDAQ:JRVR – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The insurance provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. James River Group had a net margin of 3.16% and a return on equity of 12.58%. The business had revenue of $225.71 million for the quarter, compared to analysts’ expectations of $212.47 million. During the same period last year, the business earned ($1.81) earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts expect that James River Group will post 2.15 EPS for the current fiscal year.

James River Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, March 10th. James River Group’s dividend payout ratio (DPR) is currently 33.90%.

Institutional Trading of James River Group

Several large investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its holdings in James River Group by 74.2% in the fourth quarter. Voya Investment Management LLC now owns 32,782 shares of the insurance provider’s stock valued at $685,000 after acquiring an additional 13,963 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in James River Group by 3.9% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 55,645 shares of the insurance provider’s stock valued at $1,163,000 after buying an additional 2,069 shares during the period. Alliancebernstein L.P. lifted its position in James River Group by 2.5% during the fourth quarter. Alliancebernstein L.P. now owns 50,401 shares of the insurance provider’s stock valued at $1,054,000 after buying an additional 1,234 shares during the period. State of Tennessee Treasury Department lifted its position in James River Group by 41.6% during the fourth quarter. State of Tennessee Treasury Department now owns 20,420 shares of the insurance provider’s stock valued at $427,000 after buying an additional 6,003 shares during the period. Finally, Jane Street Group LLC purchased a new position in James River Group during the fourth quarter valued at $313,000. Institutional investors own 99.69% of the company’s stock.

About James River Group

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James River Group Holdings Ltd. engages in the ownership and operation of a group of specialty insurance and reinsurance companies. It operates through the following segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers E&S commercial lines liability and property insurance products.