James River Group (NASDAQ:JRVR) Announces Earnings Results

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) announced its quarterly earnings data on Monday. The insurance provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01, Zacks reports. James River Group had a negative return on equity of 2.12% and a negative net margin of 12.81%.

James River Group Price Performance

JRVR traded up $0.08 during trading on Monday, reaching $5.52. The stock had a trading volume of 147,525 shares, compared to its average volume of 269,697. The firm has a market capitalization of $253.31 million, a price-to-earnings ratio of -1.79 and a beta of 0.06. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $5.75 and a two-hundred day moving average of $4.95. James River Group has a 1-year low of $3.00 and a 1-year high of $7.80.

James River Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 9th. James River Group's dividend payout ratio (DPR) is -1.29%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JRVR. Wall Street Zen upgraded James River Group from a "sell" rating to a "hold" rating in a report on Friday, June 6th. JMP Securities restated a "market outperform" rating and issued a $8.00 price objective on shares of James River Group in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.06.

Insider Buying and Selling at James River Group

In other James River Group news, Director Peter B. Migliorato purchased 18,500 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average cost of $5.46 per share, with a total value of $101,010.00. Following the acquisition, the director directly owned 39,201 shares of the company's stock, valued at approximately $214,037.46. This trade represents a 89.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Christine Lasala acquired 29,125 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average price of $5.23 per share, for a total transaction of $152,323.75. Following the completion of the acquisition, the director directly owned 60,758 shares of the company's stock, valued at $317,764.34. This trade represents a 92.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 64,625 shares of company stock valued at $353,124 in the last three months. 16.50% of the stock is currently owned by company insiders.

Institutional Trading of James River Group

An institutional investor recently raised its position in James River Group stock. Jane Street Group LLC increased its position in shares of James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) by 13.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,297 shares of the insurance provider's stock after acquiring an additional 2,918 shares during the period. Jane Street Group LLC owned about 0.06% of James River Group worth $106,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.