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

James River Group (NASDAQ:JRVR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. UBS Group cut shares of James River Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $8.00 to $4.75 in a research note on Tuesday, May 19th. Wall Street Zen upgraded James River Group from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Citizens Jmp reiterated a “market perform” rating on shares of James River Group in a research report on Tuesday, May 5th. Weiss Ratings cut James River Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Finally, Citigroup downgraded James River Group from a “hold” rating to a “market perform” rating in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $6.44.

James River Group Stock Up 1.6%

NASDAQ JRVR opened at $4.56 on Monday. The business’s fifty day simple moving average is $4.32 and its 200-day simple moving average is $5.73. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.44. The firm has a market cap of $210.85 million, a PE ratio of 13.41 and a beta of -0.19. James River Group has a 52 week low of $3.76 and a 52 week high of $7.20.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Monday, May 4th. The insurance provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). James River Group had a net margin of 4.34% and a return on equity of 10.79%. The firm had revenue of $151.38 million during the quarter, compared to analysts’ expectations of $155.07 million. As a group, equities analysts anticipate that James River Group will post 0.8 earnings per share for the current year.

Institutional Trading of James River Group

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in James River Group by 176.0% in the second quarter. Versant Capital Management Inc now owns 6,179 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 3,940 shares during the period. Clearstead Advisors LLC grew its position in James River Group by 173.9% in the 4th quarter. Clearstead Advisors LLC now owns 7,732 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 4,909 shares in the last quarter. PharVision Advisers LLC acquired a new position in James River Group in the 3rd quarter valued at about $59,000. Cerity Partners LLC purchased a new stake in James River Group during the second quarter worth about $61,000. Finally, M&T Bank Corp purchased a new stake in James River Group during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.