James River Group Holdings, Ltd. (NASDAQ:JRVR) Given Consensus Rating of "Reduce" by Brokerages

Key Points

• Analysts maintain a bearish outlook: James River Group has a consensus “Reduce” rating from seven firms, with one sell and six hold recommendations. The average 12-month price target is $5.75.
• Shares remain under pressure: JRVR fell 0.8% to $3.76, near its one-year low of $3.73, while trading below its 50-day and 200-day moving averages.
• Quarterly results were mixed: The company reported $0.20 in earnings per share, below the $0.24 consensus estimate, but revenue of $161.34 million exceeded expectations. It also announced a quarterly dividend of $0.01 per share, representing a 1.1% yield.

Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report) have earned an average rating of "Reduce" from the seven ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.75.

A number of analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of James River Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Truist Financial lowered their price objective on James River Group from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Wednesday, August 12th. UBS Group reduced their target price on James River Group from $4.75 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, August 17th. Zacks Research raised James River Group from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded James River Group from a "sell" rating to a "hold" rating in a report on Sunday, June 14th.

Institutional Investors Weigh In On James River Group

A number of institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its stake in James River Group by 176.0% during the second quarter. Versant Capital Management Inc now owns 6,179 shares of the insurance provider's stock worth $27,000 after purchasing an additional 3,940 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of James River Group by 173.9% in the fourth quarter. Clearstead Advisors LLC now owns 7,732 shares of the insurance provider's stock valued at $49,000 after buying an additional 4,909 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of James River Group in the 2nd quarter valued at $141,000. Canal Insurance CO purchased a new stake in shares of James River Group in the 1st quarter valued at $189,000. Finally, Bank of America Corp DE lifted its stake 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 worth $231,000 after acquiring an additional 6,608 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

James River Group Trading Down 0.8%

NASDAQ:JRVR traded down $0.03 during trading hours on Friday, hitting $3.76. The company had a trading volume of 61,914 shares, compared to its average volume of 319,148. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $4.30 and a 200 day moving average of $4.89. The company has a market cap of $173.86 million, a P/E ratio of 9.89 and a beta of -0.21. James River Group has a 1 year low of $3.73 and a 1 year high of $7.20.

James River Group (NASDAQ:JRVR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The insurance provider reported $0.20 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $135.50 million. Sell-side analysts expect that James River Group will post 0.65 earnings per share for the current year.

James River Group Dividend Announcement

The business 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 1.1%. The ex-dividend date of this dividend is Tuesday, September 15th. James River Group's dividend payout ratio (DPR) is 10.53%.

About James River Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.