James River Group (NASDAQ:JRVR) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• James River Group shares fell below their 200-day moving average, trading as low as $4.01 versus the $5.15 average, on volume of 247,913 shares.
• Analysts remain cautious: six rate the stock “Hold” and one rates it “Sell,” resulting in an average “Reduce” rating and a $5.75 price target.
• The company reported quarterly earnings of $0.20 per share, below the $0.24 consensus estimate, although revenue of $161.34 million exceeded expectations. James River also announced a $0.01 quarterly dividend, representing a 1.0% yield.

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.15 and traded as low as $4.01. James River Group shares last traded at $4.01, with a volume of 247,913 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on JRVR shares. Citigroup downgraded shares of James River Group from a "hold" rating to a "market perform" rating in a research report on Tuesday, May 5th. Wall Street Zen raised James River Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 14th. Citizens Jmp reiterated a "market perform" rating on shares of James River Group in a research note on Tuesday, May 5th. Zacks Research raised James River Group from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. 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 investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $5.75.

James River Group Price Performance

The firm has a market capitalization of $185.42 million, a price-to-earnings ratio of 10.55 and a beta of -0.20. The company's 50 day moving average is $4.40 and its 200 day moving average is $5.15. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.43.

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

James River Group Dividend Announcement

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

Institutional Investors Weigh In On James River Group

A number of hedge funds and other institutional investors have recently made changes to their positions in JRVR. Public Employees Retirement System of Ohio acquired a new stake in James River Group during the second quarter worth approximately $141,000. Donald Smith & CO. Inc. bought a new position in James River Group during the 2nd quarter worth $10,738,000. Bank of New York Mellon Corp acquired a new position in James River Group in the 2nd quarter valued at $562,000. Versant Capital Management Inc raised its holdings in James River Group by 176.0% in the 2nd 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. Finally, Bank of America Corp DE lifted its position in shares of James River Group by 22.0% during the 1st quarter. Bank of America Corp DE now owns 36,690 shares of the insurance provider's stock valued at $231,000 after acquiring an additional 6,608 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.

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