James River Group (NASDAQ:JRVR) Stock Passes Above 50-Day Moving Average - What's Next?

Key Points

• James River Group's stock has recently surpassed its 50-day moving average, reaching a high of $5.68 during trading, with the last trade at $5.65.
• Analysts have upgraded the stock from a "sell" to a "hold" rating, with a consensus price target of $6.06 based on data from MarketBeat.com.
• The company declared a quarterly dividend of $0.01 per share, which will be distributed to shareholders on September 30th, representing an annualized yield of 0.7%.

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report)'s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.61 and traded as high as $5.68. James River Group shares last traded at $5.65, with a volume of 181,076 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised James River Group from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $6.06.

James River Group Price Performance

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 stock has a market capitalization of $259.45 million, a price-to-earnings ratio of -1.79 and a beta of 0.03. The company's 50-day simple moving average is $5.61 and its 200 day simple moving average is $5.23.

James River Group (NASDAQ:JRVR - Get Free Report) last posted its earnings results on Monday, August 4th. The insurance provider reported $0.23 EPS 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 firm had revenue of $152.61 million for the quarter, compared to the consensus estimate of $176.46 million. Equities research analysts forecast that James River Group Holdings, Ltd. will post -0.35 EPS for the current year.

James River Group Announces Dividend

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

Institutional Investors Weigh In On James River Group

A number of hedge funds have recently bought and sold shares of JRVR. Ameriprise Financial Inc. grew its holdings in James River Group by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 97,492 shares of the insurance provider's stock worth $571,000 after purchasing an additional 2,357 shares during the period. Jane Street Group LLC grew its holdings in James River Group by 13.0% in the first quarter. Jane Street Group LLC now owns 25,297 shares of the insurance provider's stock worth $106,000 after purchasing an additional 2,918 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in James River Group by 22.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,028 shares of the insurance provider's stock worth $102,000 after purchasing an additional 3,839 shares during the period. BNP Paribas Financial Markets grew its holdings in James River Group by 43.0% in the second quarter. BNP Paribas Financial Markets now owns 13,211 shares of the insurance provider's stock worth $77,000 after purchasing an additional 3,971 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in James River Group by 11.2% in the second quarter. Bridgeway Capital Management LLC now owns 57,800 shares of the insurance provider's stock worth $339,000 after purchasing an additional 5,800 shares during the period. 95.21% of the stock is currently owned by institutional investors.

James River Group Company Profile

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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