James River Group (NASDAQ:JRVR) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

James River Group Holdings, Ltd. (NASDAQ:JRVR) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.64 and traded as low as $6.13. James River Group shares last traded at $6.29, with a volume of 192,979 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Zacks Research lowered James River Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Raymond James Financial set a $7.00 price target on James River Group in a research note on Tuesday, December 16th. Truist Financial boosted their price target on James River Group from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings upgraded James River Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen raised James River Group from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.25.

James River Group Trading Down 2.2%

The business has a fifty day moving average price of $6.64 and a 200-day moving average price of $6.08. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.42. The company has a market cap of $282.72 million, a P/E ratio of 8.42 and a beta of -0.06.

James River Group (NASDAQ:JRVR) last released its quarterly earnings results on Tuesday, March 3rd. The insurance provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). James River Group had a return on equity of 12.01% and a net margin of 6.90%.The firm had revenue of $167.75 million for the quarter, compared to analyst estimates of $171.98 million. On average, analysts forecast that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current year.

James River Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, March 13th. James River Group’s dividend payout ratio (DPR) is currently 5.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its position in James River Group by 13.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,142 shares of the insurance provider’s stock worth $93,000 after buying an additional 1,772 shares in the last quarter. Sowell Financial Services LLC lifted its position in shares of James River Group by 15.4% during the 3rd quarter. Sowell Financial Services LLC now owns 15,000 shares of the insurance provider’s stock valued at $83,000 after acquiring an additional 2,000 shares during the period. Cerity Partners LLC increased its position in shares of James River Group by 15.5% in the fourth quarter. Cerity Partners LLC now owns 15,388 shares of the insurance provider’s stock worth $98,000 after purchasing an additional 2,062 shares during the period. CWM LLC raised its stake in James River Group by 13.8% in the third quarter. CWM LLC now owns 18,479 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 2,240 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in James River Group by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 97,492 shares of the insurance provider’s stock valued at $571,000 after purchasing an additional 2,357 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.