James River Group (NASDAQ:JRVR) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of James River Group (NASDAQ:JRVR) in a report issued on Monday, Benzinga reports. The firm currently has a $15.00 price objective on the insurance provider’s stock.

JRVR has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut their price objective on shares of James River Group from $11.00 to $9.00 and set a market perform rating on the stock in a research note on Thursday, March 7th. UBS Group reduced their price objective on James River Group from $34.00 to $15.00 and set a buy rating for the company in a research note on Tuesday, March 5th. Truist Financial lowered their target price on James River Group from $15.00 to $11.00 and set a hold rating on the stock in a research note on Friday, March 1st. Finally, Compass Point upgraded James River Group from a neutral rating to a buy rating and set a $12.00 price target for the company in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $12.33.

James River Group Price Performance

Shares of JRVR opened at $8.72 on Monday. The firm has a market capitalization of $328.40 million, a PE ratio of -3.86 and a beta of 0.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.55 and a quick ratio of 0.55. The company’s fifty day moving average price is $9.18 and its 200-day moving average price is $10.16. James River Group has a 1-year low of $6.35 and a 1-year high of $22.15.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Wednesday, February 28th. The insurance provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). James River Group had a negative net margin of 10.80% and a positive return on equity of 13.75%. The firm had revenue of $218.10 million during the quarter, compared to analyst estimates of $216.80 million. On average, equities research analysts predict that James River Group will post 1.75 EPS for the current year.

James River Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were given a dividend of $0.05 per share. The ex-dividend date was Friday, March 8th. This represents a $0.20 dividend on an annualized basis and a yield of 2.29%. James River Group’s dividend payout ratio is currently -8.85%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. increased its holdings in James River Group by 163.8% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,380,574 shares of the insurance provider’s stock worth $34,155,000 after acquiring an additional 857,178 shares in the last quarter. Wellington Management Group LLP grew its position in shares of James River Group by 41.9% in the first quarter. Wellington Management Group LLP now owns 934,787 shares of the insurance provider’s stock valued at $23,126,000 after purchasing an additional 275,981 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of James River Group by 8.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,583,161 shares of the insurance provider’s stock worth $74,924,000 after purchasing an additional 274,337 shares in the last quarter. AQR Capital Management LLC raised its position in shares of James River Group by 415.9% during the 3rd quarter. AQR Capital Management LLC now owns 336,920 shares of the insurance provider’s stock worth $5,172,000 after purchasing an additional 271,613 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in James River Group by 682.4% in the 4th quarter. Cubist Systematic Strategies LLC now owns 301,778 shares of the insurance provider’s stock valued at $2,788,000 after buying an additional 263,206 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

James River Group Company Profile

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.