James River Group (NASDAQ:JRVR) Issues Earnings Results, Misses Expectations By $0.01 EPS

James River Group (NASDAQ:JRVR) posted its quarterly earnings results on Monday. The insurance provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01), FiscalAI reports. James River Group had a return on equity of 12.28% and a net margin of 6.90%.The company had revenue of $167.75 million for the quarter, compared to analyst estimates of $171.98 million.

James River Group Stock Performance

Shares of NASDAQ JRVR opened at $6.67 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $6.63 and a 200 day simple moving average of $6.00. James River Group has a one year low of $3.00 and a one year high of $7.20. The firm has a market capitalization of $306.62 million, a price-to-earnings ratio of 9.14 and a beta of -0.06.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Zimmer Partners LP grew its holdings in James River Group by 53.8% during the 3rd quarter. Zimmer Partners LP now owns 4,591,638 shares of the insurance provider’s stock worth $25,484,000 after acquiring an additional 1,605,828 shares during the period. Kennedy Capital Management LLC bought a new position in shares of James River Group during the fourth quarter worth about $3,117,000. Segall Bryant & Hamill LLC bought a new stake in shares of James River Group in the fourth quarter worth $1,964,000. Quinn Opportunity Partners LLC acquired a new position in shares of James River Group during the 4th quarter worth about $736,000. Finally, Geode Capital Management LLC grew its stake 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 valued at $5,875,000 after purchasing an additional 95,351 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on JRVR shares. Raymond James Financial set a $7.00 price target on shares of James River Group in a research note on Tuesday, December 16th. Zacks Research downgraded James River Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Truist Financial set a $7.00 target price on James River Group in a report on Tuesday. Compass Point downgraded shares of James River Group from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research note on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of James River Group in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, James River Group presently has a consensus rating of “Hold” and an average price target of $6.80.

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.