James River Group (NASDAQ:JRVR) Stock Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• James River Group shares crossed above their 50-day moving average, reaching $4.00 before closing at $3.87, modestly above the $3.85 average. The stock remains below its 200-day moving average of $4.44.
• Analyst sentiment remains cautious: six analysts rate the stock “Hold” and one rates it “Sell,” resulting in a consensus “Reduce” rating and an average price target of $5.75. Truist and UBS recently lowered their price targets to $5.00 and $4.00, respectively.
• The company reported quarterly revenue of $161.34 million, above expectations, but earnings per share of $0.20 missed consensus by $0.04. James River also paid a quarterly dividend of $0.01 per share, equal to a 1.0% annualized yield.

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $3.85 and traded as high as $4.00. James River Group shares last traded at $3.87, with a volume of 234,979 shares.

Analyst Upgrades and Downgrades

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

James River Group Trading Up 0.3%

The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.43. The stock's 50 day moving average price is $3.85 and its 200-day moving average price is $4.44. The stock has a market capitalization of $178.99 million, a PE ratio of 10.18 and a beta of -0.17.

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

James River Group Announces Dividend

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

Institutional Trading of James River Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canal Insurance CO raised its holdings in shares of James River Group by 65.1% in the third quarter. Canal Insurance CO now owns 270,920 shares of the insurance provider's stock worth $929,000 after buying an additional 106,849 shares during the period. Abel Hall LLC purchased a new stake in shares of James River Group during the 3rd quarter valued at $35,000. Public Employees Retirement System of Ohio purchased a new stake in James River Group in the second quarter valued at about $141,000. Donald Smith & CO. Inc. purchased a new position in shares of James River Group in the 2nd quarter valued at approximately $10,738,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of James River Group in the second quarter worth $562,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

James River Group Company Profile

James River Group Holdings, Ltd. NASDAQ: JRVR is a specialty insurance holding company that provides commercial casualty coverage and reinsurance through its operating subsidiaries. The company focuses on markets that are often underserved by standard insurance carriers, offering customized underwriting solutions for specialized risks.

Its insurance operations have included excess and surplus lines, specialty admitted insurance, and casualty reinsurance. Products and services have historically included commercial general liability, excess liability, workers' compensation, and other specialty casualty coverages.

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