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. “
Several other research firms also recently commented on JRVR. Barclays lowered their target price on shares of James River Group from $32.00 to $29.00 and set an equal weight rating on the stock in a research report on Thursday, January 6th. Keefe, Bruyette & Woods raised James River Group from a market perform rating to an outperform rating and lowered their price target for the company from $39.00 to $35.00 in a research report on Friday, November 12th. TheStreet downgraded James River Group from a c- rating to a d+ rating in a research report on Friday, December 3rd. Finally, B. Riley raised their price target on James River Group from $45.00 to $51.00 and gave the company a buy rating in a research report on Friday, October 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $40.33.
James River Group (NASDAQ:JRVR) last posted its earnings results on Tuesday, November 2nd. The insurance provider reported ($0.72) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.52). The business had revenue of $190.99 million for the quarter, compared to analyst estimates of $202.05 million. James River Group had a negative return on equity of 10.74% and a negative net margin of 16.68%. During the same period in the previous year, the company earned $0.56 earnings per share. Sell-side analysts anticipate that James River Group will post -3.06 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Monday, December 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Friday, December 10th. James River Group’s dividend payout ratio (DPR) is presently -29.48%.
In other news, Director Thomas Lynn Brown bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 10th. The shares were acquired at an average cost of $29.16 per share, with a total value of $87,480.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Jefferies Group LLC acquired a new stake in James River Group during the third quarter worth about $268,000. UBS Asset Management Americas Inc. lifted its stake in James River Group by 1.7% during the third quarter. UBS Asset Management Americas Inc. now owns 28,575 shares of the insurance provider’s stock worth $1,078,000 after purchasing an additional 464 shares during the period. Moors & Cabot Inc. bought a new position in James River Group during the third quarter worth about $632,000. Bank of New York Mellon Corp lifted its stake in James River Group by 7.8% during the third quarter. Bank of New York Mellon Corp now owns 341,680 shares of the insurance provider’s stock worth $12,892,000 after purchasing an additional 24,739 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in James River Group by 2.2% during the third quarter. Deprince Race & Zollo Inc. now owns 291,408 shares of the insurance provider’s stock worth $10,995,000 after purchasing an additional 6,380 shares during the period. 98.73% of the stock is currently owned by institutional investors and hedge funds.
James River Group Company Profile
James River Group Holdings Ltd. engages in the ownership and operation of a group of specialty insurance and reinsurance companies. It operates through the following segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers E&S commercial lines liability and property insurance products.
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