James River Group (NASDAQ:JRVR) PT Lowered to $8.00 at Truist Financial

James River Group (NASDAQ:JRVR) had its price target cut by analysts at Truist Financial from $9.00 to $8.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the insurance provider’s stock. Truist Financial’s price objective would indicate a potential upside of 12.04% from the company’s previous close.

JRVR has been the topic of a number of other research reports. Compass Point cut their price objective on shares of James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. JMP Securities dropped their target price on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.17.

James River Group Stock Performance

Shares of JRVR stock opened at $7.14 on Wednesday. James River Group has a 12 month low of $6.35 and a 12 month high of $17.94. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.41. The company has a market cap of $270.08 million, a P/E ratio of -3.42 and a beta of 0.16. The firm has a fifty day moving average price of $7.77 and a 200 day moving average price of $8.54.

James River Group (NASDAQ:JRVR) last released its quarterly earnings data on Monday, August 5th. The insurance provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). James River Group had a negative net margin of 10.56% and a positive return on equity of 12.85%. The business had revenue of $188.30 million during the quarter, compared to analysts’ expectations of $169.39 million. During the same quarter in the previous year, the company posted $0.53 EPS. The company’s revenue was down 3.3% compared to the same quarter last year. Sell-side analysts predict that James River Group will post 1.75 earnings per share for the current fiscal year.

Institutional Trading of James River Group

Several institutional investors and hedge funds have recently bought and sold shares of JRVR. Vanguard Group Inc. grew its position in James River Group by 22.9% during the 1st quarter. Vanguard Group Inc. now owns 2,579,287 shares of the insurance provider’s stock worth $23,987,000 after purchasing an additional 479,823 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of James River Group by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 576,293 shares of the insurance provider’s stock worth $5,325,000 after buying an additional 60,609 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in James River Group by 143.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 512,968 shares of the insurance provider’s stock valued at $4,771,000 after acquiring an additional 302,257 shares during the period. Jump Financial LLC raised its stake in James River Group by 409.1% during the 4th quarter. Jump Financial LLC now owns 115,570 shares of the insurance provider’s stock valued at $1,068,000 after acquiring an additional 92,870 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in James River Group by 125,501.1% during the 4th quarter. Federated Hermes Inc. now owns 113,041 shares of the insurance provider’s stock worth $1,044,000 after acquiring an additional 112,951 shares during the period. Hedge funds and other institutional investors 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.