James River Group Holdings Ltd (NASDAQ:JRVR) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 297,968 shares, a drop of 54.2% from the February 15th total of 650,957 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 593,584 shares, the days-to-cover ratio is currently 0.5 days.
Several research firms have weighed in on JRVR. B. Riley reaffirmed a “buy” rating and set a $47.00 price objective on shares of James River Group in a research report on Tuesday, November 14th. SunTrust Banks cut their price objective on James River Group to $44.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. BidaskClub raised James River Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, Zacks Investment Research raised James River Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $43.00.
In other James River Group news, Director Janet Raye Cowell bought 1,206 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average cost of $33.16 per share, with a total value of $39,990.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 41.00% of the stock is owned by company insiders.
James River Group (NASDAQ JRVR) opened at $35.19 on Tuesday. James River Group has a 1-year low of $32.17 and a 1-year high of $44.34. The stock has a market cap of $1,033.74, a P/E ratio of 24.44 and a beta of 0.55. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.14.
James River Group (NASDAQ:JRVR) last released its earnings results on Thursday, February 22nd. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.58). James River Group had a net margin of 5.33% and a return on equity of 6.67%. The business had revenue of $217.96 million for the quarter, compared to analysts’ expectations of $208.56 million. During the same quarter in the previous year, the business posted $0.77 earnings per share. James River Group’s revenue for the quarter was up 29.0% on a year-over-year basis. sell-side analysts predict that James River Group will post 2.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 12th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 9th. This represents a $1.20 annualized dividend and a dividend yield of 3.41%. James River Group’s payout ratio is 222.22%.
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James River Group Company Profile
James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.
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