James River Group (NASDAQ:JRVR) Price Target Cut to $5.00 by Analysts at Truist Financial

James River Group (NASDAQ:JRVR) had its price objective reduced by research analysts at Truist Financial from $6.00 to $5.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the insurance provider’s stock. Truist Financial’s price target would suggest a potential upside of 16.28% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Citigroup lowered shares of James River Group from a “hold” rating to a “market perform” rating in a report on Tuesday, May 5th. Citizens Jmp restated a “market perform” rating on shares of James River Group in a research note on Tuesday, May 5th. UBS Group lowered James River Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $8.00 to $4.75 in a research report on Tuesday, May 19th. Weiss Ratings cut James River Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen upgraded James River Group from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, James River Group presently has an average rating of “Reduce” and an average price target of $5.94.

James River Group Stock Up 2.4%

James River Group stock traded up $0.10 during midday trading on Wednesday, hitting $4.30. 240,427 shares of the company were exchanged, compared to its average volume of 332,690. The company has a market cap of $198.83 million, a PE ratio of 11.32 and a beta of -0.20. James River Group has a fifty-two week low of $3.76 and a fifty-two week high of $7.20. The company’s fifty day moving average price is $4.38 and its 200-day moving average price is $5.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.64 and a quick ratio of 0.64.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Monday, August 10th. The insurance provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). The firm had revenue of $161.34 million during the quarter, compared to analyst estimates of $135.50 million. James River Group had a net margin of 4.68% and a return on equity of 9.94%. On average, research analysts predict that James River Group will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On James River Group

Institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. bought a new position in James River Group during the second quarter worth $10,738,000. Bank of New York Mellon Corp acquired a new position in shares of James River Group in the 2nd quarter valued at about $562,000. Versant Capital Management Inc lifted its holdings in James River Group by 176.0% in the second quarter. Versant Capital Management Inc now owns 6,179 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 3,940 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of James River Group by 22.0% during the first quarter. Bank of America Corp DE now owns 36,690 shares of the insurance provider’s stock valued at $231,000 after purchasing an additional 6,608 shares during the last quarter. Finally, RBF Capital LLC raised its position in shares of James River Group by 7.5% during the 1st quarter. RBF Capital LLC now owns 1,128,525 shares of the insurance provider’s stock worth $7,110,000 after purchasing an additional 78,525 shares during the period. 95.21% of the stock is currently owned by institutional investors.

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.