James River Group Holdings, Ltd. (NASDAQ:JRVR) Given Average Recommendation of “Reduce” by Brokerages

James River Group Holdings, Ltd. (NASDAQ:JRVR) has been given an average recommendation of “Reduce” by the seven research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $5.75.

Several research firms have commented on JRVR. Truist Financial dropped their price target on shares of James River Group from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, August 12th. UBS Group decreased their target price on James River Group from $4.75 to $4.00 and set a “neutral” rating for the company in a report on Monday, August 17th. Wall Street Zen raised James River Group from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Zacks Research upgraded James River Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings raised James River Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in James River Group by 176.0% during the 2nd quarter. Versant Capital Management Inc now owns 6,179 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 3,940 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of 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 purchasing an additional 4,909 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of James River Group during the 2nd quarter worth $141,000. Canal Insurance CO purchased a new stake in shares of James River Group during the 1st quarter worth $189,000. Finally, Bank of America Corp DE grew its stake in shares of James River Group by 22.0% during the first quarter. Bank of America Corp DE now owns 36,690 shares of the insurance provider’s stock worth $231,000 after purchasing an additional 6,608 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

James River Group Stock Down 0.8%

Shares of JRVR traded down $0.03 during mid-day trading on Friday, hitting $3.76. 61,914 shares of the company’s stock were exchanged, compared to its average volume of 319,148. The stock’s 50-day moving average is $4.30 and its 200-day moving average is $4.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.63 and a current ratio of 0.63. James River Group has a fifty-two week low of $3.73 and a fifty-two week high of $7.20. The company has a market cap of $173.86 million, a price-to-earnings ratio of 9.89 and a beta of -0.21.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Tuesday, August 11th. The insurance provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). James River Group had a net margin of 4.68% and a return on equity of 9.93%. The business had revenue of $161.34 million during the quarter, compared to analyst estimates of $135.50 million. On average, sell-side analysts anticipate that James River Group will post 0.65 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 15th. James River Group’s dividend payout ratio is presently 10.53%.

About James River Group

James River Group Holdings, Ltd. is a Bermuda-based specialty insurance holding company that operates primarily through insurance subsidiaries in the United States. The company provides specialty property and casualty insurance and reinsurance products for businesses and other insurance organizations.

James River’s operations have included excess and surplus lines, specialty admitted insurance and casualty reinsurance. Its products are designed for risks that may not be readily served by standard insurance markets and have included commercial automobile liability, general liability, workers’ compensation and other casualty coverages.