StockNews.com Downgrades James River Group (NASDAQ:JRVR) to Hold

StockNews.com cut shares of James River Group (NASDAQ:JRVR) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Separately, Barclays lowered their price target on James River Group from $18.00 to $17.00 and set an equal weight rating for the company in a research report on Wednesday, August 9th.

James River Group Price Performance

JRVR stock opened at $14.05 on Thursday. The business has a fifty day moving average of $16.76 and a two-hundred day moving average of $19.28. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.37. The stock has a market cap of $528.56 million, a price-to-earnings ratio of 15.11 and a beta of 0.39. James River Group has a 52-week low of $13.94 and a 52-week high of $26.60.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, August 7th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. James River Group had a return on equity of 14.65% and a net margin of 4.57%. The company had revenue of $238.44 million during the quarter, compared to analysts’ expectations of $204.35 million. During the same quarter last year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 29.0% compared to the same quarter last year. As a group, research analysts anticipate that James River Group will post 2.11 earnings per share for the current year.

James River Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 11th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.20 dividend on an annualized basis and a yield of 1.42%. James River Group’s dividend payout ratio (DPR) is presently 21.51%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC purchased a new stake in James River Group during the 2nd quarter worth about $30,000. Federated Hermes Inc. purchased a new stake in James River Group during the 3rd quarter worth about $37,000. Point72 Hong Kong Ltd lifted its holdings in James River Group by 218.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,654 shares of the insurance provider’s stock worth $41,000 after buying an additional 1,135 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in James River Group by 839.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,236 shares of the insurance provider’s stock worth $46,000 after buying an additional 1,998 shares during the last quarter. Finally, Quarry LP purchased a new stake in James River Group during the 1st quarter worth about $48,000. 94.72% of the stock is currently owned by hedge funds and other institutional investors.

About James River Group

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 in all states and the District of Columbia.