Truist Financial Issues Pessimistic Forecast for James River Group (NASDAQ:JRVR) Stock Price

Key Points

• Truist Financial cut James River Group’s price target from $6.00 to $5.00 while maintaining a “hold” rating, implying 16.28% potential upside from the $4.30 share price.
• Analyst sentiment remains cautious: six analysts rate the stock “hold” and one rates it “sell,” producing a consensus “reduce” rating and a $5.94 average target price.
• James River Group reported quarterly EPS of $0.20, below the $0.24 consensus estimate, although revenue of $161.34 million exceeded expectations of $135.50 million.

James River Group (NASDAQ:JRVR - Get Free Report) had its price target cut by equities research analysts at Truist Financial from $6.00 to $5.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the insurance provider's stock. Truist Financial's target price points to a potential upside of 16.28% from the company's current price.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings lowered shares of James River Group from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, May 20th. Citizens Jmp reaffirmed a "market perform" rating on shares of James River Group in a research report on Tuesday, May 5th. Zacks Research upgraded James River Group from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Citigroup lowered James River Group from a "hold" rating to a "market perform" rating in a research note on Tuesday, May 5th. Finally, UBS Group downgraded shares of James River Group from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $8.00 to $4.75 in a research note on Tuesday, May 19th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, James River Group has a consensus rating of "Reduce" and a consensus target price of $5.94.

James River Group Price Performance

JRVR stock traded up $0.10 during midday trading on Wednesday, hitting $4.30. 240,427 shares of the stock were exchanged, compared to its average volume of 332,690. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $198.83 million, a price-to-earnings ratio of 11.32 and a beta of -0.20. James River Group has a fifty-two week low of $3.76 and a fifty-two week high of $7.20. The stock's 50-day moving average price is $4.38 and its 200-day moving average price is $5.41.

James River Group (NASDAQ:JRVR - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The insurance provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). James River Group had a net margin of 4.68% and a return on equity of 9.94%. The business had revenue of $161.34 million during the quarter, compared to analysts' expectations of $135.50 million. Research analysts predict that James River Group will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On James River Group

Several hedge funds and other institutional investors have recently modified their holdings of JRVR. Versant Capital Management Inc raised its holdings in James River Group by 176.0% in the second quarter. Versant Capital Management Inc now owns 6,179 shares of the insurance provider's stock valued at $27,000 after buying an additional 3,940 shares during the period. Clearstead Advisors LLC grew its stake in James River Group by 173.9% during the fourth quarter. Clearstead Advisors LLC now owns 7,732 shares of the insurance provider's stock worth $49,000 after buying an additional 4,909 shares during the period. PharVision Advisers LLC acquired a new stake in shares of James River Group in the third quarter worth $59,000. Cerity Partners LLC purchased a new position in shares of James River Group in the 2nd quarter valued at $61,000. Finally, M&T Bank Corp acquired a new position in shares of James River Group during the 4th quarter valued at $65,000. 95.21% of the stock is owned by institutional investors and hedge funds.

About James River Group

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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