James River Group Holdings, Ltd. (NASDAQ:JRVR) Stock Now Rated “Reduce” by Wall Street Brokerages

Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) have received an average recommendation of “Reduce” from the seven analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.75.

JRVR has been the subject of a number of research analyst reports. Zacks Research upgraded James River Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. UBS Group dropped their target price on shares of James River Group from $4.75 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, August 17th. Weiss Ratings raised James River Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Truist Financial cut their target price on James River Group from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, August 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. purchased a new position in shares of James River Group in the second quarter worth approximately $10,738,000. Flax Pond Capital LLC purchased a new stake in shares of James River Group in the fourth quarter worth $3,427,000. Bronte Capital Management Pty Ltd. raised its position in shares of James River Group by 174.3% during the 1st quarter. Bronte Capital Management Pty Ltd. now owns 338,961 shares of the insurance provider’s stock valued at $2,135,000 after purchasing an additional 215,386 shares during the period. Hillsdale Investment Management Inc. raised its position in shares of James River Group by 45.5% during the 1st quarter. Hillsdale Investment Management Inc. now owns 448,860 shares of the insurance provider’s stock valued at $2,828,000 after purchasing an additional 140,400 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of James River Group during the 2nd quarter valued at $562,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

James River Group Stock Performance

James River Group stock opened at $3.86 on Tuesday. James River Group has a 1-year low of $3.36 and a 1-year high of $7.20. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $3.86 and a 200-day moving average of $4.45. The firm has a market cap of $178.53 million, a P/E ratio of 10.16 and a beta of -0.17.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Tuesday, August 11th. The insurance provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). James River Group had a return on equity of 9.93% and a net margin of 4.68%. The business had revenue of $161.34 million during the quarter, compared to the consensus estimate of $135.50 million. Sell-side analysts expect that James River Group will post 0.65 EPS for the current year.

James River Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a $0.01 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.04 annualized dividend and a yield of 1.0%. James River Group’s dividend payout ratio (DPR) is currently 10.53%.

James River Group Company Profile

James River Group Holdings, Ltd. (NASDAQ: JRVR) is a specialty insurance holding company that provides commercial casualty coverage and reinsurance through its operating subsidiaries. The company focuses on markets that are often underserved by standard insurance carriers, offering customized underwriting solutions for specialized risks.

Its insurance operations have included excess and surplus lines, specialty admitted insurance, and casualty reinsurance. Products and services have historically included commercial general liability, excess liability, workers’ compensation, and other specialty casualty coverages.