James River Group Holdings, Ltd. (NASDAQ:JRVR) Stock Now Rated "Reduce" by Sell-Side Analysts

Key Points

• Analysts have a consensus “Reduce” rating on James River Group: one recommends selling and six recommend holding. The average 12-month price target is $5.75.
• Truist cut its price target from $6 to $5, while UBS lowered its target from $4.75 to $4; both maintained hold/neutral ratings.
• The insurer reported quarterly EPS of $0.20, below the $0.24 consensus, despite revenue of $161.34 million topping expectations. Its shares traded at $3.89, and it paid a quarterly dividend of $0.01 per share.

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report) has earned a consensus rating of "Reduce" from the seven brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $5.75.

JRVR has been the topic of several recent research reports. Truist Financial dropped their target price on James River Group from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, August 12th. UBS Group reduced their price target on James River Group from $4.75 to $4.00 and set a "neutral" rating for the company in a research report on Monday, August 17th. Finally, Weiss Ratings upgraded James River Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th.

Institutional Investors Weigh In On James River Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc boosted its position in shares of James River Group by 176.0% in the second quarter. Versant Capital Management Inc now owns 6,179 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 3,940 shares during the period. Abel Hall LLC bought a new stake in James River Group during the 3rd quarter worth approximately $35,000. Canal Insurance CO bought a new stake in James River Group during the 1st quarter worth approximately $189,000. Public Employees Retirement System of Ohio purchased a new stake in James River Group in the 2nd quarter worth approximately $141,000. Finally, Bank of America Corp DE lifted its stake in James River Group by 22.0% in the 1st quarter. Bank of America Corp DE now owns 36,690 shares of the insurance provider's stock worth $231,000 after purchasing an additional 6,608 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

James River Group Stock Performance

NASDAQ:JRVR traded down $0.11 on Friday, reaching $3.89. 104,403 shares of the company's stock were exchanged, compared to its average volume of 233,935. The firm has a market cap of $179.91 million, a price-to-earnings ratio of 10.24 and a beta of -0.14. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a fifty day simple moving average of $3.79 and a 200-day simple moving average of $4.94. James River Group has a 52 week low of $3.36 and a 52 week high of $7.20.

James River Group (NASDAQ:JRVR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The insurance provider reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The business had revenue of $161.34 million for the quarter, compared to analysts' expectations of $135.50 million. James River Group had a net margin of 4.68% and a return on equity of 9.93%. As a group, sell-side analysts predict that James River Group will post 0.65 earnings per share for the current year.

James River Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 15th. James River Group's payout ratio is presently 10.53%.

About James River Group

James River Group Holdings, Ltd. NASDAQ: JRVR is a specialty insurance holding company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides commercial casualty insurance and reinsurance products to businesses and other insurance organizations.

The company's operations have included excess and surplus lines insurance, specialty admitted insurance and casualty reinsurance. Its products are designed for risks that may require customized underwriting or coverage that is not readily available through standard commercial insurance markets.

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