James River Group (NASDAQ:JRVR) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

James River Group (NASDAQ:JRVR) posted its quarterly earnings data on Monday. The insurance provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04), FiscalAI reports. James River Group had a return on equity of 9.94% and a net margin of 4.68%.The firm had revenue of $161.34 million during the quarter, compared to analysts’ expectations of $135.50 million.

James River Group Stock Down 7.5%

NASDAQ:JRVR opened at $4.20 on Wednesday. The company’s 50-day simple moving average is $4.38 and its 200-day simple moving average is $5.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.64. James River Group has a fifty-two week low of $3.76 and a fifty-two week high of $7.20. The stock has a market capitalization of $194.21 million, a P/E ratio of 11.05 and a beta of -0.20.

James River Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 15th. James River Group’s dividend payout ratio (DPR) is currently 11.76%.

Hedge Funds Weigh In On James River Group

Institutional investors and hedge funds have recently bought and sold shares of the company. PharVision Advisers LLC purchased a new stake in shares of James River Group during the 3rd quarter valued at $59,000. Cerity Partners LLC purchased a new position in James River Group during the 2nd quarter worth $61,000. HRT Financial LP acquired a new position in James River Group during the 4th quarter valued at about $74,000. Jump Financial LLC acquired a new position in James River Group during the 4th quarter valued at about $76,000. Finally, BNP Paribas Financial Markets raised its stake in James River Group by 43.0% in the second quarter. BNP Paribas Financial Markets now owns 13,211 shares of the insurance provider’s stock valued at $77,000 after buying an additional 3,971 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on JRVR shares. UBS Group downgraded shares of James River Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $8.00 to $4.75 in a research note on Tuesday, May 19th. Citizens Jmp reissued a “market perform” rating on shares of James River Group in a research note on Tuesday, May 5th. Zacks Research upgraded James River Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Citigroup lowered James River Group from a “hold” rating to a “market perform” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded James River Group from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, James River Group presently has a consensus rating of “Reduce” and a consensus price target of $6.44.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.