James River Group (NASDAQ:JRVR) Share Price Breaks Above 50 Day Moving Average - Time to Sell?

Key Points

• JRVR shares rose above their 50-day moving average, reaching $3.86 and last trading at $3.85, compared with a 200-day average of $5.03.
• Analyst sentiment remains cautious: six analysts rate the stock “Hold” and one rates it “Sell,” producing a consensus “Reduce” rating and a $5.75 target price. UBS and Truist recently cut their price targets.
• James River Group missed quarterly EPS expectations, reporting $0.20 versus the $0.24 consensus, though revenue exceeded estimates. The company pays a $0.04 annualized dividend, yielding about 1.0%.

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $3.82 and traded as high as $3.86. James River Group shares last traded at $3.85, with a volume of 288,101 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JRVR. Zacks Research raised James River Group from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. UBS Group dropped their price objective on James River Group from $4.75 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, August 17th. Truist Financial dropped their price objective on James River Group from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, August 12th. Finally, Weiss Ratings upgraded James River Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $5.75.

James River Group Price Performance

The stock has a fifty day moving average of $3.82 and a 200 day moving average of $5.03. The stock has a market cap of $178.06 million, a price-to-earnings ratio of 10.13 and a beta of -0.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.63 and a quick ratio of 0.63.

James River Group (NASDAQ:JRVR - Get Free Report) last issued its earnings results on Tuesday, August 11th. The insurance provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). The business had revenue of $161.34 million for the quarter, compared to analysts' expectations of $135.50 million. James River Group had a return on equity of 9.93% and a net margin of 4.68%. On average, analysts expect that James River Group Holdings, Ltd. will post 0.65 EPS for the current fiscal year.

James River Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 15th. James River Group's dividend payout ratio (DPR) is currently 10.53%.

Hedge Funds Weigh In On James River Group

A number of institutional investors have recently modified their holdings of JRVR. Versant Capital Management Inc raised its position in James River Group by 176.0% during the second quarter. Versant Capital Management Inc now owns 6,179 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 3,940 shares in the last quarter. Abel Hall LLC acquired a new position in James River Group in the third quarter valued at approximately $35,000. Public Employees Retirement System of Ohio purchased a new stake in James River Group in the 2nd quarter worth approximately $141,000. Canal Insurance CO purchased a new stake in James River Group in the 1st quarter worth approximately $189,000. Finally, Bank of America Corp DE boosted its position in James River Group by 22.0% in the 1st quarter. Bank of America Corp DE now owns 36,690 shares of the insurance provider's stock worth $231,000 after purchasing an additional 6,608 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

About James River Group

James River Group Holdings, Ltd. NASDAQ: JRVR is a specialty insurance holding company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides commercial casualty insurance and reinsurance products to businesses and other insurance organizations.

The company's operations have included excess and surplus lines insurance, specialty admitted insurance and casualty reinsurance. Its products are designed for risks that may require customized underwriting or coverage that is not readily available through standard commercial insurance markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.