James River Group (NASDAQ:JRVR) Announces Earnings Results

James River Group (NASDAQ:JRVR) announced its quarterly earnings results on Wednesday. The insurance provider reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39, Briefing.com reports. The firm had revenue of $201.13 million for the quarter, compared to analysts’ expectations of $172.26 million. James River Group had a positive return on equity of 13.75% and a negative net margin of 10.80%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share.

James River Group Stock Down 6.5 %

JRVR traded down $0.55 during trading on Thursday, hitting $7.97. The company had a trading volume of 1,414,822 shares, compared to its average volume of 1,158,774. The company has a market capitalization of $300.15 million, a PE ratio of -3.77 and a beta of 0.17. James River Group has a one year low of $6.35 and a one year high of $22.15. The firm’s 50-day moving average price is $8.77 and its 200 day moving average price is $9.55. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.42.

James River Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were given a $0.05 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.20 annualized dividend and a yield of 2.51%. James River Group’s dividend payout ratio is currently -8.85%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial decreased their target price on James River Group from $15.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, March 1st. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price objective on shares of James River Group in a report on Monday, April 15th. Compass Point upgraded James River Group from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Friday, March 22nd. UBS Group cut their price target on shares of James River Group from $34.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of James River Group from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.33.

About James River Group

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.