James River Group (NASDAQ:JRVR) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of James River Group (NASDAQ:JRVR) from a hold rating to a buy rating in a research report released on Saturday.

Several other equities analysts also recently commented on the company. Raymond James Financial set a $7.00 target price on James River Group in a research report on Tuesday, December 16th. Zacks Research cut James River Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Compass Point lowered James River Group from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research note on Tuesday, December 16th. Weiss Ratings raised James River Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Truist Financial boosted their target price on shares of James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.80.

James River Group Stock Performance

NASDAQ JRVR opened at $6.47 on Friday. The stock has a market cap of $297.43 million, a P/E ratio of 8.86 and a beta of -0.06. The company’s 50-day simple moving average is $6.65 and its 200 day simple moving average is $6.01. James River Group has a twelve month low of $3.73 and a twelve month high of $7.20. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.42.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Monday, March 2nd. The insurance provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The business had revenue of $167.75 million for the quarter, compared to the consensus estimate of $171.98 million. James River Group had a return on equity of 12.01% and a net margin of 6.90%. As a group, research analysts forecast that James River Group will post -0.35 earnings per share for the current fiscal year.

James River Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, March 13th. James River Group’s dividend payout ratio is currently 5.48%.

Hedge Funds Weigh In On James River Group

Several institutional investors have recently modified their holdings of JRVR. Zimmer Partners LP raised its position in shares of James River Group by 53.8% in the 3rd quarter. Zimmer Partners LP now owns 4,591,638 shares of the insurance provider’s stock valued at $25,484,000 after acquiring an additional 1,605,828 shares during the period. Enstar Group LTD bought a new stake in James River Group in the fourth quarter valued at approximately $16,477,000. Donald Smith & CO. Inc. increased its stake in James River Group by 434.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,671,220 shares of the insurance provider’s stock valued at $10,629,000 after purchasing an additional 1,358,785 shares in the last quarter. RBF Capital LLC raised its holdings in James River Group by 5.0% in the fourth quarter. RBF Capital LLC now owns 1,050,000 shares of the insurance provider’s stock worth $6,678,000 after purchasing an additional 50,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in James River Group by 10.5% in the second quarter. Geode Capital Management LLC now owns 1,002,499 shares of the insurance provider’s stock worth $5,875,000 after purchasing an additional 95,351 shares during the period. 95.21% of the stock is currently 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.