James River Group Holdings, Ltd. (NASDAQ:JRVR) Given Average Recommendation of “Reduce” by Brokerages

Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) have received a consensus recommendation of “Reduce” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $6.4375.

A number of research firms have commented on JRVR. Truist Financial raised their target price on James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. UBS Group downgraded James River Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $8.00 to $4.75 in a report on Tuesday, May 19th. Weiss Ratings downgraded James River Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Citizens Jmp reissued a “market perform” rating on shares of James River Group in a report on Tuesday, May 5th. Finally, Wall Street Zen downgraded James River Group from a “hold” rating to a “sell” rating in a report on Saturday.

James River Group Stock Performance

Shares of JRVR opened at $3.97 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $183.57 million, a P/E ratio of 11.68 and a beta of -0.16. The company’s fifty day moving average is $5.14 and its two-hundred day moving average is $5.99. James River Group has a 1 year low of $3.76 and a 1 year high of $7.20.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Monday, May 4th. The insurance provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.15). The firm had revenue of $151.38 million during the quarter, compared to analyst estimates of $155.07 million. James River Group had a net margin of 4.34% and a return on equity of 10.79%. On average, sell-side analysts predict that James River Group will post 0.8 earnings per share for the current year.

James River Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 8th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.04 dividend on an annualized basis and a yield of 1.0%. James River Group’s dividend payout ratio (DPR) is 11.76%.

Institutional Investors Weigh In On James River Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC raised its stake in shares of 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 worth $106,000 after buying an additional 2,918 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of James River Group by 10.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,002,499 shares of the insurance provider’s stock worth $5,875,000 after buying an additional 95,351 shares during the last quarter. Invesco Ltd. raised its stake in shares of James River Group by 7.6% during the 2nd quarter. Invesco Ltd. now owns 298,243 shares of the insurance provider’s stock worth $1,748,000 after buying an additional 20,954 shares during the last quarter. First Trust Advisors LP raised its stake in shares of James River Group by 26.2% during the 2nd quarter. First Trust Advisors LP now owns 148,153 shares of the insurance provider’s stock worth $868,000 after buying an additional 30,802 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of James River Group during the 2nd quarter worth $61,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

About James River Group

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.