James River Group (NASDAQ:JRVR) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

James River Group Holdings, Ltd. (NASDAQ:JRVR)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $4.38 and traded as low as $4.01. James River Group shares last traded at $4.03, with a volume of 280,633 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JRVR. Truist Financial reduced their price objective 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. Weiss Ratings raised shares of James River Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Zacks Research raised shares of James River Group from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. UBS Group cut their price target on shares of James River Group from $4.75 to $4.00 and set a “neutral” rating on the stock in a report on Monday, August 17th. Finally, Wall Street Zen raised shares of James River Group from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $5.75.

James River Group Stock Down 3.1%

The firm has a 50-day simple moving average of $4.38 and a 200 day simple moving average of $5.03. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $186.35 million, a PE ratio of 10.61 and a beta of -0.21.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Tuesday, August 11th. The insurance provider reported $0.20 EPS 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 company had revenue of $161.34 million for the quarter, compared to analyst estimates of $135.50 million. On average, research analysts predict that James River Group Holdings, Ltd. will post 0.65 EPS for the current fiscal year.

James River Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.04 annualized dividend and a yield of 1.0%. James River Group’s payout ratio is 10.53%.

Institutional Trading of James River Group

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of James River Group during the second quarter valued at approximately $141,000. Donald Smith & CO. Inc. purchased a new position in shares of James River Group in the second quarter valued at $10,738,000. Bank of New York Mellon Corp purchased a new position in shares of James River Group in the second quarter valued at $562,000. Versant Capital Management Inc grew its holdings in 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 valued at $27,000 after purchasing an additional 3,940 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in James River Group by 22.0% during the 1st quarter. Bank of America Corp DE now owns 36,690 shares of the insurance provider’s stock valued at $231,000 after purchasing an additional 6,608 shares in the last quarter. Institutional investors and hedge funds 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.