James River Group (NASDAQ:JRVR) Releases Earnings Results, Beats Expectations By $0.06 EPS

James River Group (NASDAQ:JRVR) announced its quarterly earnings results on Monday. The insurance provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06, Zacks reports. James River Group had a negative net margin of 13.50% and a negative return on equity of 1.97%.

James River Group Stock Up 1.4%

Shares of NASDAQ:JRVR traded up $0.07 during midday trading on Monday, reaching $5.17. 259,919 shares of the company were exchanged, compared to its average volume of 258,796. James River Group has a fifty-two week low of $3.00 and a fifty-two week high of $6.77. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $5.44. The firm has a market cap of $237.42 million, a PE ratio of -1.64 and a beta of 0.01.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of James River Group in a report on Tuesday, October 14th. Zacks Research lowered shares of James River Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.06.

Institutional Trading of James River Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Cerity Partners LLC acquired a new stake in shares of James River Group in the 2nd quarter valued at about $61,000. Jane Street Group LLC raised its position in James River Group by 46.9% in the 2nd quarter. Jane Street Group LLC now owns 37,151 shares of the insurance provider’s stock valued at $218,000 after buying an additional 11,854 shares during the last quarter. Ameriprise Financial Inc. raised its position in James River Group by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 97,492 shares of the insurance provider’s stock valued at $571,000 after buying an additional 2,357 shares during the last quarter. BNP Paribas Financial Markets raised its position in James River Group by 43.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 13,211 shares of the insurance provider’s stock valued at $77,000 after buying an additional 3,971 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in James River Group by 10.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,002,499 shares of the insurance provider’s stock valued at $5,875,000 after buying an additional 95,351 shares during the last quarter. 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, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.