BidaskClub Upgrades James River Group (NASDAQ:JRVR) to “Buy”

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BidaskClub upgraded shares of James River Group (NASDAQ:JRVR) from a hold rating to a buy rating in a report published on Friday morning, BidAskClub reports.

A number of other research firms also recently weighed in on JRVR. Zacks Investment Research raised James River Group from a hold rating to a buy rating and set a $51.00 target price for the company in a report on Wednesday, May 8th. B. Riley lifted their target price on James River Group from $38.00 to $40.00 and gave the stock a neutral rating in a report on Wednesday, June 26th. Finally, ValuEngine downgraded James River Group from a buy rating to a hold rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. James River Group presently has a consensus rating of Hold and an average price target of $42.50.

JRVR opened at $47.22 on Friday. James River Group has a fifty-two week low of $34.08 and a fifty-two week high of $48.78. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.43 billion, a P/E ratio of 20.27 and a beta of 0.50. The stock’s fifty day moving average price is $47.26.

James River Group (NASDAQ:JRVR) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.02. James River Group had a return on equity of 10.62% and a net margin of 8.50%. The company had revenue of $220.37 million during the quarter, compared to the consensus estimate of $218.10 million. As a group, sell-side analysts expect that James River Group will post 2.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, September 13th. James River Group’s dividend payout ratio is currently 51.50%.

A number of hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in James River Group by 1.5% in the first quarter. Principal Financial Group Inc. now owns 2,584,415 shares of the insurance provider’s stock valued at $103,583,000 after purchasing an additional 39,051 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in James River Group by 3.2% in the first quarter. Frontier Capital Management Co. LLC now owns 1,464,170 shares of the insurance provider’s stock valued at $58,684,000 after purchasing an additional 44,964 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in James River Group by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,133,569 shares of the insurance provider’s stock valued at $41,420,000 after purchasing an additional 7,430 shares in the last quarter. Champlain Investment Partners LLC raised its stake in James River Group by 37.7% in the first quarter. Champlain Investment Partners LLC now owns 952,240 shares of the insurance provider’s stock valued at $38,166,000 after purchasing an additional 260,920 shares in the last quarter. Finally, Investment Counselors of Maryland LLC raised its stake in James River Group by 0.8% in the second quarter. Investment Counselors of Maryland LLC now owns 522,574 shares of the insurance provider’s stock valued at $24,509,000 after purchasing an additional 4,191 shares in the last quarter. 97.59% of the stock is owned by institutional investors and hedge funds.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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