James River Group (NASDAQ:JRVR) Posts Earnings Results, Misses Expectations By $0.04 EPS

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

James River Group Stock Performance

JRVR traded down $0.16 during trading hours on Monday, hitting $4.54. The stock had a trading volume of 201,324 shares, compared to its average volume of 331,132. James River Group has a 1 year low of $3.76 and a 1 year high of $7.20. The company’s fifty day simple moving average is $4.36 and its 200 day simple moving average is $5.44. The stock has a market cap of $209.93 million, a PE ratio of 13.35 and a beta of -0.20. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.44.

Hedge Funds Weigh In On James River Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JRVR. Zimmer Partners LP lifted its holdings in James River Group by 53.8% during the 3rd quarter. Zimmer Partners LP now owns 4,591,638 shares of the insurance provider’s stock worth $25,484,000 after purchasing an additional 1,605,828 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in James River Group during the 4th quarter valued at about $3,117,000. Segall Bryant & Hamill LLC bought a new stake in shares of James River Group during the fourth quarter valued at about $1,964,000. Quinn Opportunity Partners LLC bought a new stake in shares of James River Group during the fourth quarter valued at about $736,000. Finally, Geode Capital Management LLC lifted its holdings in shares of James River Group by 10.5% in the second 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 in the last quarter. Institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of James River Group from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings cut shares of James River Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Citigroup downgraded shares of James River Group from a “hold” rating to a “market perform” rating in a research report on Tuesday, May 5th. Citizens Jmp restated a “market perform” rating on shares of James River Group in a research note on Tuesday, May 5th. Finally, UBS Group cut shares of James River Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $4.75 in a report on Tuesday, May 19th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $6.44.

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.