James River Group (NASDAQ:JRVR) Cut to Sell at StockNews.com

StockNews.com downgraded shares of James River Group (NASDAQ:JRVR – Get Rating) from a hold rating to a sell rating in a report released on Wednesday.

Separately, Barclays lowered their price target on shares of James River Group from $25.00 to $24.00 and set an equal weight rating on the stock in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat, James River Group presently has a consensus rating of Moderate Buy and an average target price of $31.40.

James River Group Price Performance

Shares of JRVR opened at $24.30 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.60 and a quick ratio of 0.60. The company’s fifty day moving average is $23.84 and its two-hundred day moving average is $24.36. James River Group has a 1 year low of $19.76 and a 1 year high of $39.69.

James River Group (NASDAQ:JRVR – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The insurance provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. James River Group had a negative net margin of 9.55% and a negative return on equity of 8.56%. The business had revenue of $184.81 million for the quarter, compared to analysts’ expectations of $200.07 million. During the same period in the prior year, the company posted $0.54 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts forecast that James River Group will post 1.95 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 12th will be paid a $0.05 dividend. The ex-dividend date is Friday, September 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.82%. James River Group’s payout ratio is -9.80%.

Institutional Investors Weigh In On James River Group

Large investors have recently added to or reduced their stakes in the business. KBC Group NV acquired a new stake in James River Group in the 2nd quarter valued at about $79,000. Teacher Retirement System of Texas lifted its holdings in James River Group by 26.0% in the 4th quarter. Teacher Retirement System of Texas now owns 7,370 shares of the insurance provider’s stock valued at $212,000 after purchasing an additional 1,521 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in James River Group in the 1st quarter valued at about $207,000. Ergoteles LLC purchased a new position in James River Group in the 1st quarter valued at about $214,000. Finally, ProShare Advisors LLC lifted its holdings in James River Group by 62.2% in the 4th quarter. ProShare Advisors LLC now owns 9,169 shares of the insurance provider’s stock valued at $265,000 after purchasing an additional 3,515 shares in the last quarter. 98.78% of the stock is owned by institutional investors and hedge funds.

About James River Group

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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.