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

James River Group Holdings, Ltd. (NASDAQ:JRVR)’s share price crossed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $4.17 and traded as low as $3.38. James River Group shares last traded at $3.44, with a volume of 337,138 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JRVR. Zacks Research upgraded James River Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings upgraded James River Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. UBS Group dropped their price objective on James River Group from $4.75 to $4.00 and set a “neutral” rating on the stock in a report on Monday, August 17th. Truist Financial reduced their target price on James River Group from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, August 12th. Finally, Wall Street Zen upgraded James River Group from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $5.75.

James River Group Trading Up 0.6%

The company has a 50 day simple moving average of $4.15 and a 200 day simple moving average of $4.72. The company has a market capitalization of $158.64 million, a PE ratio of 9.03 and a beta of -0.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.63 and a current ratio of 0.63.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings results on Tuesday, August 11th. The insurance provider reported $0.20 earnings per share (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 firm had revenue of $161.34 million during the quarter, compared to analyst estimates of $135.50 million. Analysts anticipate that James River Group Holdings, Ltd. will post 0.65 earnings per share for the current year.

James River Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 15th. James River Group’s payout ratio is 10.53%.

Institutional Investors Weigh In On James River Group

A number of hedge funds have recently modified their holdings of the business. Enstar Group LTD acquired a new position in James River Group during the fourth quarter worth about $16,477,000. Donald Smith & CO. Inc. purchased a new position in James River Group in the 2nd quarter worth approximately $10,738,000. Flax Pond Capital LLC acquired a new position in shares of James River Group during the 4th quarter worth approximately $3,427,000. Bronte Capital Management Pty Ltd. grew its position in shares of James River Group by 174.3% in the first 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 in the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of James River Group by 45.5% in the first 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 last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

James River Group Company Profile

James River Group Holdings, Ltd. is a Bermuda-based specialty insurance holding company that operates primarily through insurance subsidiaries in the United States. The company provides specialty property and casualty insurance and reinsurance products for businesses and other insurance organizations.

James River’s operations have included excess and surplus lines, specialty admitted insurance and casualty reinsurance. Its products are designed for risks that may not be readily served by standard insurance markets and have included commercial automobile liability, general liability, workers’ compensation and other casualty coverages.