Brokerages expect James River Group Holdings, Ltd. (NASDAQ: JRVR) Reports Quarterly Sales of $ 190.30 Million
Analysts expect James River Group Holdings, Ltd. (NASDAQ: JRVR) reports revenue of $ 190.30 million for the current quarter, reports Zacks Investment Research. Two analysts have released earnings estimates for the James River Group, with estimates ranging from $ 186.70 million to $ 193.90 million. James River Group reported sales of $ 186.75 million in the same quarter last year, indicating a positive year-over-year growth rate of 1.9%. The company is expected to release its next quarterly results after the market closes on Wednesday August 4.
Zacks says analysts expect James River Group to report annual revenue of $ 763.50 million for the current year, with estimates ranging from $ 753.00 to $ 774.00 million . For next year, analysts predict the company will post sales of $ 835.35 million, with estimates ranging from $ 834.40 million to $ 836.30 million. Zacks’ sales calculations are an average based on a survey of seller-side research companies that cover James River Group.
James River Group (NASDAQ: JRVR) last released its results on Wednesday, May 5. The insurance provider reported ($ 3.54) earnings per share (EPS) for the quarter, missing analyst consensus estimates of $ 0.59 per ($ 4.13). The company posted revenue of $ 182.98 million for the quarter, compared to analysts’ estimates of $ 183.25 million. James River Group recorded a negative return on equity of 5.33% and a negative net margin of 8.34%.
Several analysts weighed on JRVR shares. Truist Securities Upgraded James River Group Shares From A “Hold” Rating To A “Buy” Rating And Lowered Its Share Price Target From $ 56.00 To $ 43.00 In A Note research on Friday, May 7. Zacks Investment Research downgraded James River Group shares from a “hold” rating to a “sell” rating in a Friday May 7 research note. Finally, Truist upgraded James River Group shares from a “hold” rating to a “buy” rating and lowered its target price for the stock from $ 56.00 to $ 43.00 in a research note. Friday May 7. One equity research analyst rated the stock with a sell rating, another assigned a conservation rating, and four assigned a buy rating to the company’s stock. James River Group currently has an average rating of “Buy” and a consensus target price of $ 54.50.
James River Group shares opened at $ 36.63 on Friday. James River Group has a twelve month low of $ 30.75 and a twelve month high of $ 57.41. The company has a quick ratio of 0.57, a current ratio of 0.57, and a debt ratio of 0.41. The company has a 50-day simple moving average of $ 36.16. The company has a market cap of $ 1.13 billion, a PE ratio of -18.13 and a beta of 0.46.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 30. Shareholders of record on Monday, June 14 received a dividend of $ 0.30. This represents an annualized dividend of $ 1.20 and a return of 3.28%. The ex-dividend date of this dividend was Friday June 11. James River Group’s dividend payout ratio is currently 44.28%.
A number of hedge funds have recently increased or reduced their holdings in JRVR. SG Americas Securities LLC purchased a new position in James River Group in the 4th quarter for a value of approximately $ 125,000. Aperio Group LLC increased its stake in James River Group shares by 10.1% during the 4th quarter. Aperio Group LLC now owns 8,165 shares of the insurance provider valued at $ 401,000 after purchasing an additional 752 shares in the last quarter. ProShare Advisors LLC purchased a new equity stake in James River Group during the 4th quarter for a value of approximately $ 354,000. Wells Fargo & Company MN increased its stake in James River Group shares by 8.9% during the 4th quarter. Wells Fargo & Company MN now owns 74,759 shares of the insurance provider valued at $ 3,674,000 after purchasing an additional 6,084 shares in the last quarter. Finally, KBC Groupe NV acquired a new equity stake in James River Group during the 4th quarter for a value of approximately $ 91,000. 96.88% of the shares are currently held by hedge funds and other institutional investors.
About the James River Group
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through the Excess and Surplus Lines, Specialty Admitted Insurance and Casualty Reinsurance segments. The Surplus and Surplus Lines segment provides liability and property insurance on the basis of surplus and surplus business lines in all states and the District of Columbia.
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