James River Group (NASDAQ:JRVR) Releases Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• James River Group reported quarterly earnings of $0.23 EPS, exceeding estimates by $0.01, while facing a negative return on equity of 2.12% and a net margin of -12.81%.
• The company declared a quarterly dividend of $0.01 per share, with a dividend yield of 0.7% and a negative dividend payout ratio of -1.29%.
• Brokerages have recently upgraded James River Group's stock, with an average price target of $6.06 and a consensus rating of "Hold".

James River Group (NASDAQ:JRVR - Get Free Report) released its quarterly earnings data on Monday. The insurance provider reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.01, Zacks reports. James River Group had a negative net margin of 13.50% and a negative return on equity of 1.97%. The business had revenue of $152.61 million during the quarter, compared to analyst estimates of $176.46 million.

James River Group Trading Down 0.5%

Shares of JRVR stock traded down $0.03 on Friday, hitting $5.72. 47,514 shares of the company's stock traded hands, compared to its average volume of 268,461. James River Group has a one year low of $3.00 and a one year high of $7.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.65 and a current ratio of 0.63. The company's fifty day simple moving average is $5.73 and its 200 day simple moving average is $4.98. The stock has a market capitalization of $262.66 million, a price-to-earnings ratio of -1.81 and a beta of 0.06.

James River Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued 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, September 15th. James River Group's payout ratio is presently -1.27%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of James River Group from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. JMP Securities reissued a "market outperform" rating and set a $8.00 price objective on shares of James River Group in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $6.06.

Insider Activity at James River Group

In other news, Director Christine Lasala acquired 29,125 shares of the stock in a transaction dated Monday, May 19th. The stock was purchased at an average cost of $5.23 per share, with a total value of $152,323.75. Following the completion of the purchase, the director owned 60,758 shares in the company, valued at approximately $317,764.34. The trade was a 92.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd Randell Sutherland bought 17,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average cost of $5.87 per share, for a total transaction of $99,790.00. Following the completion of the purchase, the insider directly owned 24,457 shares of the company's stock, valued at $143,562.59. The trade was a 227.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 64,625 shares of company stock worth $353,124 in the last ninety days. 16.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On James River Group

A hedge fund recently raised its stake in James River Group stock. Jane Street Group LLC lifted its stake in James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,297 shares of the insurance provider's stock after purchasing an additional 2,918 shares during the quarter. Jane Street Group LLC owned about 0.06% of James River Group worth $106,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 95.21% of the company's stock.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.