Brokerages Set James River Group Holdings, Ltd. (NASDAQ:JRVR) Target Price at $6.40

James River Group Holdings, Ltd. (NASDAQ:JRVR) has been given a consensus rating of “Hold” by the seven analysts that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $6.80.

A number of equities research analysts have weighed in on JRVR shares. Weiss Ratings raised shares of James River Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday. Zacks Research downgraded shares of James River Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Raymond James Financial set a $7.00 price target on shares of James River Group in a report on Tuesday, December 16th. Truist Financial increased their price objective on James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Wall Street Zen raised James River Group from a “hold” rating to a “buy” rating in a research report on Saturday.

Hedge Funds Weigh In On James River Group

A number of hedge funds and other institutional investors have recently made changes to their positions in JRVR. Clearstead Advisors LLC increased its position in James River Group by 173.9% during 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 during the period. PharVision Advisers LLC acquired a new position in shares of James River Group in the 3rd quarter worth approximately $59,000. R Squared Ltd acquired a new position in shares of James River Group in the 3rd quarter worth approximately $60,000. Cerity Partners LLC bought a new stake in shares of James River Group in the 2nd quarter valued at $61,000. Finally, M&T Bank Corp bought a new stake in shares of James River Group in the 4th quarter valued at $65,000. 95.21% of the stock is owned by institutional investors and hedge funds.

James River Group Price Performance

James River Group stock opened at $6.47 on Monday. The stock has a 50-day moving average price of $6.65 and a two-hundred day moving average price of $6.01. James River Group has a 12 month low of $3.73 and a 12 month high of $7.20. The company has a market capitalization of $297.43 million, a PE ratio of 8.86 and a beta of -0.06. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.42.

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

James River Group Announces Dividend

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

James River Group Company Profile

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.