James River Group (NASDAQ:JRVR) Upgraded at BidaskClub

BidaskClub upgraded shares of James River Group (NASDAQ:JRVR) from a hold rating to a buy rating in a research report released on Saturday, BidAskClub reports.

Other equities analysts have also issued research reports about the stock. B. Riley lowered shares of James River Group from a neutral rating to a sell rating and cut their price objective for the stock from $45.00 to $40.00 in a report on Wednesday, October 9th. UBS Group upgraded shares of James River Group from a neutral rating to a buy rating in a report on Tuesday, November 26th. ValuEngine lowered shares of James River Group from a buy rating to a hold rating in a report on Wednesday, November 13th. SunTrust Banks lowered shares of James River Group from a buy rating to a hold rating and cut their price objective for the stock from $55.00 to $40.00 in a report on Wednesday, October 9th. Finally, Zacks Investment Research lowered shares of James River Group from a hold rating to a strong sell rating in a report on Saturday, October 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $42.50.

Shares of JRVR stock opened at $39.30 on Friday. James River Group has a 12 month low of $34.08 and a 12 month high of $52.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $1.20 billion, a P/E ratio of 16.87 and a beta of 0.47. The company’s fifty day moving average price is $36.54 and its two-hundred day moving average price is $44.83.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Thursday, November 7th. The insurance provider reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.24. James River Group had a net margin of 3.69% and a return on equity of 4.86%. The firm had revenue of $231.47 million for the quarter, compared to analyst estimates of $227.50 million. On average, sell-side analysts anticipate that James River Group will post 1.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, December 13th. James River Group’s payout ratio is currently 51.50%.

In related news, CEO J Adam Abram bought 1,585 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $35.00 per share, with a total value of $55,475.00. Following the transaction, the chief executive officer now owns 428,610 shares of the company’s stock, valued at $15,001,350. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP increased its position in shares of James River Group by 3.8% in the 2nd quarter. First Trust Advisors LP now owns 9,822 shares of the insurance provider’s stock worth $461,000 after purchasing an additional 360 shares during the last quarter. Arizona State Retirement System increased its position in shares of James River Group by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 46,789 shares of the insurance provider’s stock worth $2,194,000 after purchasing an additional 405 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of James River Group by 177.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 651 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 416 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of James River Group by 3.8% in the 2nd quarter. Natixis Advisors L.P. now owns 13,663 shares of the insurance provider’s stock worth $641,000 after purchasing an additional 498 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of James River Group by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 46,146 shares of the insurance provider’s stock worth $2,365,000 after purchasing an additional 551 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

Featured Story: What is intrinsic value?

Receive News & Ratings for James River Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for James River Group and related companies with MarketBeat.com's FREE daily email newsletter.