James River Group (NASDAQ:JRVR) Shares Cross Above 50-Day Moving Average - Here's Why

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 share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty 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 changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JRVR. Wall Street Zen raised James River Group from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. JMP Securities restated a "market outperform" rating and set a $8.00 price target on shares of James River Group in a research note on Tuesday, May 6th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, James River Group presently has a consensus rating of "Hold" and a consensus target price of $6.06.

James River Group Stock Performance

The company's fifty day moving average price is $5.69 and its 200 day moving average price is $5.09. The company has a market cap of $248.43 million, a PE ratio of -1.71 and a beta of 0.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.63 and a quick ratio of 0.63.

James River Group (NASDAQ:JRVR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The insurance provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. 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 for the quarter, compared to analysts' expectations of $176.46 million. On average, equities research analysts predict that James River Group Holdings, Ltd. will post -0.35 earnings per share for the current year.

James River Group Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.7%. James River Group's dividend payout ratio is currently -1.27%.

Institutional Trading of James River Group

Hedge funds have recently bought and sold shares of the business. Deutsche Bank AG bought a new position in James River Group in the 1st quarter valued at $25,000. Aquatic Capital Management LLC purchased a new position in shares of James River Group in the 4th quarter worth about $41,000. ProShare Advisors LLC purchased a new position in shares of James River Group in the 4th quarter worth about $51,000. Simplicity Wealth LLC bought a new position in James River Group during the first quarter valued at about $51,000. Finally, Sowell Financial Services LLC purchased a new stake in James River Group during the first quarter worth about $55,000. 95.21% of the stock is currently owned by institutional investors.

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.