James River Group (NASDAQ:JRVR) Issues Earnings Results

James River Group (NASDAQ:JRVR) posted its quarterly earnings data on Monday. The insurance provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15), FiscalAI reports. The firm had revenue of $151.38 million during the quarter, compared to analysts’ expectations of $155.07 million. James River Group had a net margin of 6.90% and a return on equity of 12.01%.

James River Group Stock Performance

Shares of James River Group stock opened at $6.13 on Tuesday. The firm has a market cap of $281.79 million, a PE ratio of 8.40 and a beta of -0.03. The firm’s 50-day simple moving average is $6.40 and its 200-day simple moving average is $6.23. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.65 and a current ratio of 0.65. James River Group has a 1 year low of $4.54 and a 1 year high of $7.20.

James River Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 8th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, June 8th. James River Group’s dividend payout ratio is 5.48%.

Institutional Investors Weigh In On James River Group

A number of institutional investors have recently modified their holdings of the business. Cerity Partners LLC grew its position in shares of James River Group by 15.5% during the 4th quarter. Cerity Partners LLC now owns 15,388 shares of the insurance provider’s stock valued at $98,000 after buying an additional 2,062 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of James River Group by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 97,492 shares of the insurance provider’s stock valued at $571,000 after buying an additional 2,357 shares during the last quarter. Jane Street Group LLC grew its position 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 valued at $106,000 after buying an additional 2,918 shares during the last quarter. Barclays PLC grew its position in shares of 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 buying an additional 3,528 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of James River Group by 43.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 13,211 shares of the insurance provider’s stock valued at $77,000 after buying an additional 3,971 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Analyst Ratings Changes

JRVR has been the subject of a number of analyst reports. Citigroup cut shares of James River Group from a “hold” rating to a “market perform” rating in a research report on Tuesday. Truist Financial upped their price objective on shares of James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings raised shares of James River Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. Zacks Research cut shares of James River Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Wall Street Zen raised shares of James River Group from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.25.

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.