James River Group (NASDAQ:JRVR) Share Price Crosses Below Fifty Day Moving Average After Analyst Downgrade

James River Group Holdings, Ltd. (NASDAQ:JRVR) shares passed below its 50-day moving average during trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock has a 50-day moving average of $5.58 and traded as low as $5.38. James River Group shares last traded at $5.38, with a volume of 137,956 shares.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of James River Group in a report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, James River Group currently has a consensus rating of “Hold” and a consensus price target of $6.06.

Hedge Funds Weigh In On James River Group

Institutional investors have recently modified their holdings of the company. Deutsche Bank AG bought a new position in shares of James River Group during the 1st quarter valued at about $25,000. Cerity Partners LLC purchased a new position in James River Group in the 2nd quarter worth approximately $61,000. Simplicity Wealth LLC purchased a new position in James River Group in the 1st quarter worth approximately $51,000. Sowell Financial Services LLC purchased a new position in James River Group in the 1st quarter worth approximately $55,000. Finally, BNP Paribas Financial Markets increased its stake in James River Group by 43.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 13,211 shares of the insurance provider’s stock worth $77,000 after purchasing an additional 3,971 shares during the period. 95.21% of the stock is currently owned by institutional investors.

James River Group Stock Up 1.9%

The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $5.58 and a 200 day simple moving average of $5.29. The firm has a market capitalization of $251.64 million, a PE ratio of -1.73 and a beta of 0.01.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Monday, August 4th. The insurance provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $152.61 million for the quarter, compared to analysts’ expectations of $176.46 million. James River Group had a negative return on equity of 1.97% and a negative net margin of 13.50%. As a group, sell-side analysts forecast that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current year.

James River Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.7%. James River Group’s payout ratio is -1.27%.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.