Shares of James River Group Holdings Ltd (NASDAQ:JRVR) have been assigned a consensus recommendation of "Hold" from the eight research firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $50.50.
Several research analysts have recently issued reports on JRVR shares. BidaskClub cut James River Group from a "buy" rating to a "hold" rating in a research report on Tuesday. Zacks Investment Research raised James River Group from a "hold" rating to a "buy" rating and set a $54.00 target price for the company in a report on Saturday, August 15th. SunTrust Banks boosted their target price on James River Group from $42.00 to $53.00 and gave the company a "hold" rating in a report on Wednesday, July 15th. B. Riley boosted their target price on James River Group from $50.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Finally, TheStreet raised James River Group from a "c" rating to a "b" rating in a report on Wednesday, July 29th.
Shares of NASDAQ:JRVR traded up $0.30 on Wednesday, hitting $46.46. 5,089 shares of the company's stock were exchanged, compared to its average volume of 183,626. The firm's 50-day moving average is $47.62 and its 200 day moving average is $40.86. The company has a market capitalization of $1.41 billion, a PE ratio of -221.42 and a beta of 0.53. James River Group has a 1-year low of $25.34 and a 1-year high of $52.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.73 and a current ratio of 0.73.
James River Group (NASDAQ:JRVR) last released its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.48 by $0.08. The business had revenue of $186.75 million during the quarter, compared to analysts' expectations of $188.85 million. James River Group had a positive return on equity of 4.42% and a negative net margin of 0.38%. On average, analysts anticipate that James River Group will post 2.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, September 11th. James River Group's dividend payout ratio is presently 85.71%.
In other James River Group news, COO Robert Patrick Myron sold 65,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.70, for a total transaction of $2,905,500.00. Following the completion of the sale, the chief operating officer now directly owns 253,405 shares of the company's stock, valued at approximately $11,327,203.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of James River Group by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 45,109 shares of the insurance provider's stock worth $2,030,000 after buying an additional 381 shares in the last quarter. Magnus Financial Group LLC raised its stake in shares of James River Group by 3.6% during the 2nd quarter. Magnus Financial Group LLC now owns 11,169 shares of the insurance provider's stock worth $503,000 after buying an additional 383 shares in the last quarter. Legal & General Group Plc raised its stake in shares of James River Group by 0.6% during the 1st quarter. Legal & General Group Plc now owns 76,686 shares of the insurance provider's stock worth $2,654,000 after buying an additional 436 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of James River Group during the 2nd quarter worth approximately $30,000. Finally, American International Group Inc. raised its stake in shares of James River Group by 3.7% during the 2nd quarter. American International Group Inc. now owns 21,192 shares of the insurance provider's stock worth $954,000 after buying an additional 747 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.
James River Group Company Profile
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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