A number of other analysts have also commented on the company. SunTrust Banks lowered James River Group from a buy rating to a hold rating and dropped their price target for the stock from $55.00 to $40.00 in a research note on Wednesday, October 9th. Zacks Investment Research downgraded shares of James River Group from a hold rating to a strong sell rating in a research report on Saturday, October 12th. TheStreet cut James River Group from a b- rating to a c rating in a report on Wednesday, November 6th. B. Riley lowered James River Group from a neutral rating to a sell rating and dropped their price target for the company from $45.00 to $40.00 in a research note on Wednesday, October 9th. Finally, UBS Group upgraded James River Group from a neutral rating to a buy rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $42.50.
JRVR opened at $39.37 on Tuesday. The business’s fifty day simple moving average is $36.57 and its 200 day simple moving average is $44.80. James River Group has a 52 week low of $34.08 and a 52 week high of $52.18. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.20 billion, a PE ratio of 16.90 and a beta of 0.47.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, December 13th. James River Group’s payout ratio is presently 51.50%.
In other news, CEO J Adam Abram purchased 1,585 shares of the stock in a transaction on 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 in the company, valued at approximately $15,001,350. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of JRVR. Rockefeller Capital Management L.P. boosted its stake in shares of James River Group by 177.0% in the second quarter. Rockefeller Capital Management L.P. now owns 651 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 416 shares during the period. Point72 Hong Kong Ltd acquired a new position in James River Group in the second quarter worth about $33,000. Bank of Montreal Can grew its stake in James River Group by 2,014.6% in the second quarter. Bank of Montreal Can now owns 2,601 shares of the insurance provider’s stock worth $122,000 after purchasing an additional 2,478 shares in the last quarter. Aperio Group LLC acquired a new stake in James River Group during the second quarter valued at approximately $191,000. Finally, Everence Capital Management Inc. bought a new position in James River Group during the 2nd quarter worth approximately $213,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.
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.
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