James River Group Holdings, Ltd. (NASDAQ:JRVR) Receives Consensus “Moderate Buy” Rating from Brokerages
Shares of James River Group Holdings, Ltd. (NASDAQ: JRVR – Get a rating) received an average “Moderate Buy” rating from the seven research companies that cover the business, Marketbeat.com reports. One equity research analyst gave the stock a hold rating and three gave the company a buy rating. The 1-year average price target among analysts who have rated the stock over the past year is $31.40.
JRVR has been the subject of several analyst reports. StockNews.com upgraded shares of James River Group from a “sell” to a “hold” rating in a Sunday, September 18 research report. Barclays raised its price target on James River Group shares from $24.00 to $25.00 and gave the company a “holding” rating in a research report on Thursday August 4.
Performance of James River Group Shares
The NASDAQ JRVR opened at $22.52 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt ratio of 0.37. The company has a market capitalization of $843.37 million, a price-earnings ratio of -11.04 and a beta of 0.34. The company’s 50-day simple moving average is $24.18 and its 200-day simple moving average is $24.03. James River Group has a 1-year low of $19.76 and a 1-year high of $39.56.
James River Group (NASDAQ:JRVR – Get a rating) last released its quarterly results on Monday, August 1. The insurance provider reported earnings per share (EPS) of $0.52 for the quarter, beating the consensus estimate of $0.49 by $0.03. The company posted revenue of $184.81 million for the quarter, versus analyst estimates of $200.07 million. James River Group had a negative net margin of 9.55% and a negative return on equity of 8.56%. The company’s revenue for the quarter was down 3.5% year over year. In the same quarter last year, the company posted EPS of $0.54. As a group, research analysts expect James River Group to post earnings per share of 1.95 for the current fiscal year.
James River Group announces dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 30. Shareholders of record on Monday, September 12 received a dividend of $0.05. The ex-dividend date was Friday, September 9. This represents a dividend of $0.20 on an annualized basis and a yield of 0.89%. James River Group’s dividend payout rate is currently -9.80%.
James River Group Institutional Negotiation
A number of hedge funds have recently increased or reduced their holdings in the stock. SeaCrest Wealth Management LLC bought a new position in shares of James River Group during the second quarter for $25,000. Point72 Hong Kong Ltd increased its stake in shares of James River Group by 218.7% during the second quarter. Point72 Hong Kong Ltd now owns 1,654 shares of the insurance provider valued at $41,000 after acquiring 1,135 additional shares in the last quarter. Captrust Financial Advisors increased its stake in shares of James River Group by 326.0% during the second quarter. Captrust Financial Advisors now owns 1,968 shares of the insurance provider valued at $49,000 after acquiring 1,506 additional shares in the last quarter. KBC Group NV bought a new position in shares of James River Group during the second quarter for a value of $79,000. Finally, Mutual of America Capital Management LLC increased its stake in James River Group shares by 17.0% during the second quarter. Mutual of America Capital Management LLC now owns 6,289 shares of the insurance provider valued at $156,000 after acquiring 915 additional shares in the last quarter. Institutional investors and hedge funds own 99.58% of the company’s shares.
James River Group Company Profile
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 Excess Lines segment writes liability and property insurance on a commercial excess and excess lines basis in all states and the District of Columbia.
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