Zacks Investment Research Upgrades James River Group (NASDAQ:JRVR) to Hold

James River Group (NASDAQ:JRVR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

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 equities research analysts also recently commented on the company. Truist Securities raised James River Group from a “hold” rating to a “buy” rating and lowered their price objective for the company from $56.00 to $43.00 in a research report on Friday, May 7th. Truist raised James River Group from a “hold” rating to a “buy” rating and lowered their price target for the company from $56.00 to $43.00 in a research report on Friday, May 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $54.80.

Shares of NASDAQ:JRVR opened at $37.04 on Thursday. The stock has a market capitalization of $1.14 billion, a P/E ratio of -18.34 and a beta of 0.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.57 and a current ratio of 0.57. James River Group has a 52 week low of $30.75 and a 52 week high of $57.41. The firm has a fifty day simple moving average of $35.85.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Wednesday, May 5th. The insurance provider reported ($3.54) EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($4.13). The business had revenue of $182.98 million during the quarter, compared to analysts’ expectations of $183.25 million. James River Group had a negative net margin of 8.34% and a negative return on equity of 5.33%. Research analysts forecast that James River Group will post -1.99 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP acquired a new stake in James River Group during the fourth quarter valued at approximately $492,000. Morgan Stanley raised its stake in James River Group by 9.4% during the fourth quarter. Morgan Stanley now owns 106,696 shares of the insurance provider’s stock valued at $5,245,000 after buying an additional 9,207 shares in the last quarter. Sei Investments Co. raised its stake in James River Group by 37.4% during the first quarter. Sei Investments Co. now owns 56,546 shares of the insurance provider’s stock valued at $2,580,000 after buying an additional 15,379 shares in the last quarter. First Mercantile Trust Co. raised its stake in James River Group by 5.6% during the first quarter. First Mercantile Trust Co. now owns 6,190 shares of the insurance provider’s stock valued at $283,000 after buying an additional 329 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in James River Group by 1.4% during the first quarter. Rhumbline Advisers now owns 85,898 shares of the insurance provider’s stock valued at $3,919,000 after buying an additional 1,218 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

Featured Story: Oversold

Get a free copy of the Zacks research report on James River Group (JRVR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for James River Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for James River Group and related companies with MarketBeat.com's FREE daily email newsletter.