James River Group (NASDAQ:JRVR) Receives "Market Outperform" Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of James River Group (NASDAQ:JRVR - Free Report) in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a $8.00 target price on the insurance provider's stock.

A number of other research firms have also weighed in on JRVR. StockNews.com lowered shares of James River Group from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. Compass Point decreased their price target on shares of James River Group from $7.75 to $6.25 and set a "buy" rating for the company in a research note on Monday, March 10th. Keefe, Bruyette & Woods cut their target price on James River Group from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Thursday, March 13th. Truist Financial dropped their price target on James River Group from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. Finally, Citigroup reiterated a "hold" rating on shares of James River Group in a research report on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, James River Group has a consensus rating of "Hold" and an average price target of $6.06.

James River Group Stock Performance

Shares of JRVR traded down $0.09 during mid-day trading on Tuesday, reaching $4.66. The company's stock had a trading volume of 197,789 shares, compared to its average volume of 331,721. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.38. The stock has a market cap of $212.70 million, a P/E ratio of -1.15 and a beta of 0.02. James River Group has a 1-year low of $3.00 and a 1-year high of $8.99. The business has a 50-day simple moving average of $4.25 and a two-hundred day simple moving average of $4.69.

James River Group (NASDAQ:JRVR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The insurance provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.05). The business had revenue of $172.29 million during the quarter, compared to analyst estimates of $184.15 million. James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. As a group, equities research analysts anticipate that James River Group will post -0.35 earnings per share for the current fiscal year.

James River Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, June 9th. James River Group's dividend payout ratio is currently -1.29%.

Hedge Funds Weigh In On James River Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG purchased a new position in James River Group in the 1st quarter worth $25,000. Aquatic Capital Management LLC purchased a new stake in James River Group during the 4th quarter worth approximately $41,000. ProShare Advisors LLC purchased a new stake in shares of James River Group during the fourth quarter worth $51,000. Simplicity Wealth LLC purchased a new stake in shares of James River Group in the first quarter valued at approximately $51,000. Finally, Sowell Financial Services LLC purchased a new stake in shares of James River Group in the first quarter valued at 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.