James River Group (JRVR) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of James River Group (NASDAQ:JRVR) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “James River Group Holdings, Ltd. is an insurance company which own and operate specialty insurance and reinsurance companies. The Company operates through Excess and Surplus Lines, Specialty Admitted Insurance and Casualty Reinsurance segments. James River Group Holdings, Ltd. is based in Hamilton, Bermuda. “

A number of other analysts also recently commented on the stock. ValuEngine upgraded shares of James River Group from a hold rating to a buy rating in a research report on Tuesday, October 9th. BidaskClub upgraded shares of James River Group from a hold rating to a buy rating in a research report on Wednesday, September 19th. Finally, Keefe, Bruyette & Woods downgraded shares of James River Group from an outperform rating to a market perform rating and dropped their price target for the stock from $45.00 to $40.00 in a research report on Sunday, November 11th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. James River Group currently has an average rating of Hold and an average target price of $41.00.

Shares of JRVR stock traded down $0.37 during midday trading on Wednesday, reaching $35.93. 154,564 shares of the company were exchanged, compared to its average volume of 171,825. James River Group has a 12 month low of $32.17 and a 12 month high of $43.47. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 22.89 and a beta of 0.57. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.14.

James River Group (NASDAQ:JRVR) last released its quarterly earnings results on Thursday, November 8th. The insurance provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. James River Group had a net margin of 5.90% and a return on equity of 8.33%. The company had revenue of $224.69 million for the quarter, compared to the consensus estimate of $224.90 million. On average, equities research analysts predict that James River Group will post 2.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 28th. Shareholders of record on Friday, December 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.34%. James River Group’s dividend payout ratio (DPR) is 76.43%.

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of James River Group by 11.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 319,152 shares of the insurance provider’s stock worth $12,539,000 after purchasing an additional 32,122 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of James River Group by 141.3% in the 2nd quarter. SG Americas Securities LLC now owns 10,875 shares of the insurance provider’s stock worth $427,000 after purchasing an additional 6,368 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of James River Group by 19.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 239,202 shares of the insurance provider’s stock worth $9,399,000 after purchasing an additional 39,475 shares during the last quarter. Swiss National Bank grew its stake in shares of James River Group by 19.5% in the 2nd quarter. Swiss National Bank now owns 52,199 shares of the insurance provider’s stock worth $2,051,000 after purchasing an additional 8,500 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of James River Group by 69.0% in the 2nd quarter. BlackRock Inc. now owns 4,155,688 shares of the insurance provider’s stock worth $163,277,000 after purchasing an additional 1,696,697 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

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 property and liability insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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