James River Group (NASDAQ:JRVR) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of James River Group (NASDAQ:JRVR) from a strong sell rating to a hold rating in a research report released on Monday,Zacks.com reports.

JRVR has been the topic of several other reports. Citigroup cut shares of James River Group from a “hold” rating to a “market perform” rating in a research note on Tuesday, May 5th. Weiss Ratings lowered shares of James River Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Wall Street Zen raised shares of James River Group from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. UBS Group downgraded James River Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.00 to $4.75 in a research report on Tuesday, May 19th. Finally, Citizens Jmp reissued a “market perform” rating on shares of James River Group in a research note on Tuesday, May 5th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $6.44.

James River Group Stock Up 1.6%

JRVR stock opened at $4.56 on Monday. The stock has a 50-day simple moving average of $4.32 and a two-hundred day simple moving average of $5.73. James River Group has a twelve month low of $3.76 and a twelve month high of $7.20. The firm has a market capitalization of $210.85 million, a PE ratio of 13.41 and a beta of -0.19. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.44.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Monday, May 4th. The insurance provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). James River Group had a return on equity of 10.79% and a net margin of 4.34%.The firm had revenue of $151.38 million during the quarter, compared to analysts’ expectations of $155.07 million. On average, equities analysts predict that James River Group will post 0.8 EPS for the current fiscal year.

James River Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 8th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 8th. James River Group’s payout ratio is currently 11.76%.

Institutional Trading of James River Group

Several institutional investors and hedge funds have recently made changes to their positions in JRVR. Versant Capital Management Inc lifted its holdings in shares of James River Group by 176.0% during the 2nd 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 lifted its stake in 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 worth $231,000 after purchasing an additional 6,608 shares during the last quarter. RBF Capital LLC lifted its stake in James River Group by 7.5% during the first 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 last quarter. Quantinno Capital Management LP boosted its holdings in shares of James River Group by 33.2% in the 1st quarter. Quantinno Capital Management LP now owns 102,164 shares of the insurance provider’s stock worth $644,000 after purchasing an additional 25,473 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of James River Group by 67.6% in the 1st quarter. Renaissance Technologies LLC now owns 43,400 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 17,500 shares in the last quarter. Hedge funds and other institutional investors 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.