James River Group (NASDAQ:JRVR) Posts Earnings Results

James River Group (NASDAQ:JRVR) issued its quarterly earnings data on Monday. The insurance provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04), FiscalAI reports. James River Group had a return on equity of 10.79% and a net margin of 4.34%.The business had revenue of $161.34 million during the quarter, compared to analysts’ expectations of $135.50 million.

James River Group Price Performance

James River Group stock opened at $4.54 on Tuesday. The stock has a market cap of $209.92 million, a price-to-earnings ratio of 13.35 and a beta of -0.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.64 and a quick ratio of 0.64. James River Group has a 1 year low of $3.76 and a 1 year high of $7.20. The firm has a 50-day moving average of $4.37 and a two-hundred day moving average of $5.43.

James River Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 15th. James River Group’s payout ratio is 11.76%.

Analyst Ratings Changes

A number of research analysts recently commented on JRVR shares. Citizens Jmp reaffirmed a “market perform” rating on shares of James River Group in a report on Tuesday, May 5th. Citigroup cut James River Group from a “hold” rating to a “market perform” rating in a research note on Tuesday, May 5th. Zacks Research raised James River Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen upgraded James River Group from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Finally, UBS Group downgraded James River Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $8.00 to $4.75 in a research report on Tuesday, May 19th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $6.44.

Hedge Funds Weigh In On James River Group

A number of institutional investors have recently modified their holdings of JRVR. Cerity Partners LLC boosted its holdings 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 valued at $98,000 after purchasing an additional 2,062 shares during the period. Ameriprise Financial Inc. increased its holdings in James River Group by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 97,492 shares of the insurance provider’s stock worth $571,000 after purchasing an additional 2,357 shares during the period. Jane Street Group LLC raised its position in James River Group by 13.0% during the 1st quarter. Jane Street Group LLC now owns 25,297 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 2,918 shares in the last quarter. Barclays PLC raised its position in James River Group by 6.1% during the 4th quarter. Barclays PLC now owns 60,941 shares of the insurance provider’s stock valued at $388,000 after purchasing an additional 3,528 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of James River Group by 43.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 13,211 shares of the insurance provider’s stock worth $77,000 after buying an additional 3,971 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

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.