James River Group (NASDAQ:JRVR) Share Price Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• James River Group Holdings' stock price has recently crossed above its 50-day moving average of $5.71, trading as high as $5.79 before closing at $5.64.
• Analysts have upgraded the stock from a "sell" to a "hold" rating, with a consensus target price of $6.06, while the company reported earnings of $0.23 per share, beating estimates.
• The company declared a quarterly dividend of $0.01 per share, with an annualized yield of 0.7%, set to be paid on September 30th.

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.71 and traded as high as $5.79. James River Group shares last traded at $5.64, with a volume of 432,560 shares traded.

Analyst Upgrades and Downgrades

JRVR has been the subject of a number of research analyst reports. 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 set a $8.00 price objective on shares of James River Group in a report on Tuesday, May 6th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $6.06.

James River Group Trading Down 0.9%

The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $258.97 million, a P/E ratio of -1.78 and a beta of 0.06. The firm has a 50 day moving average of $5.71 and a 200-day moving average of $5.07.

James River Group (NASDAQ:JRVR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $152.61 million during the quarter, compared to analysts' expectations of $176.46 million. James River Group had a negative return on equity of 1.97% and a negative net margin of 13.50%. On average, equities research analysts predict that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current fiscal year.

James River Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 15th. James River Group's payout ratio is currently -1.27%.

Insider Buying and Selling

In other news, insider Todd Randell Sutherland acquired 17,000 shares of the stock in a transaction 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 transaction, the insider directly owned 24,457 shares in the company, valued at approximately $143,562.59. This trade represents a 227.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 16.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in JRVR. Deutsche Bank AG acquired a new position in James River Group during the first quarter valued at approximately $25,000. Aquatic Capital Management LLC acquired a new position in James River Group during the fourth quarter valued at approximately $41,000. ProShare Advisors LLC acquired a new position in shares of James River Group during the fourth quarter worth $51,000. Simplicity Wealth LLC acquired a new position in shares of James River Group during the first quarter worth $51,000. Finally, Sowell Financial Services LLC acquired a new position in shares of James River Group during the first quarter worth $55,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.

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