James River Group (NASDAQ:JRVR) Cut to Hold at Wall Street Zen

Key Points

• James River Group was downgraded by Wall Street Zen from buy to hold, adding to a generally cautious analyst outlook on the stock.
• The company’s recent earnings disappointed, with EPS of $0.12 versus the $0.27 consensus estimate, while revenue also came in slightly below expectations.
• Shares fell 3.5% and were trading near their 52-week low, as the stock hovered around $4.15 compared with a year high of $7.20.

James River Group (NASDAQ:JRVR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Other equities research analysts have also issued research reports about the company. Weiss Ratings lowered James River Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday. Citigroup lowered James River Group from a "hold" rating to a "market perform" rating in a research report on Tuesday. Truist Financial upped their target price on James River Group from $6.00 to $7.00 and gave the company a "hold" rating in a research report on Tuesday, March 3rd. Finally, Citizens Jmp restated a "market perform" rating on shares of James River Group in a research report on Tuesday. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, James River Group currently has a consensus rating of "Reduce" and a consensus target price of $7.00.

James River Group Stock Down 3.5%

Shares of James River Group stock opened at $4.15 on Friday. James River Group has a one year low of $4.03 and a one year high of $7.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.64 and a quick ratio of 0.65. The stock's 50-day moving average is $6.27 and its 200 day moving average is $6.22. The firm has a market cap of $191.90 million, a price-to-earnings ratio of 12.21 and a beta of -0.03.

James River Group (NASDAQ:JRVR - Get Free Report) last announced its earnings results on Monday, May 4th. The insurance provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.15). James River Group had a net margin of 4.34% and a return on equity of 10.79%. The business had revenue of $151.38 million for the quarter, compared to the consensus estimate of $155.07 million. Equities research analysts anticipate that James River Group will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC raised 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 worth $49,000 after purchasing an additional 4,909 shares during the last quarter. PharVision Advisers LLC purchased a new stake in shares of James River Group in the third quarter worth approximately $59,000. R Squared Ltd purchased a new stake in shares of James River Group in the third quarter worth approximately $60,000. Cerity Partners LLC purchased a new stake in shares of James River Group in the second quarter worth approximately $61,000. Finally, M&T Bank Corp purchased a new stake in shares of James River Group in the fourth quarter worth approximately $65,000. 95.21% of the stock is owned by institutional investors and hedge funds.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.

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.