James River Group (NASDAQ:JRVR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of James River Group (NASDAQ:JRVR) from a hold rating to a buy rating in a research note released on Saturday morning.

JRVR has been the topic of a number of other research reports. Weiss Ratings raised James River Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday. Zacks Research cut shares of James River Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Truist Financial raised their price target on shares of James River Group from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Raymond James Financial set a $7.00 price objective on shares of James River Group in a research report on Tuesday, December 16th. Finally, Compass Point cut shares of James River Group from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.80.

James River Group Stock Down 1.5%

Shares of JRVR stock opened at $6.37 on Friday. James River Group has a 12-month low of $3.81 and a 12-month high of $7.20. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average of $6.65 and a 200-day moving average of $6.02. The company has a market capitalization of $292.83 million, a price-to-earnings ratio of 8.73 and a beta of -0.06.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings data on Monday, March 2nd. The insurance provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $167.75 million during the quarter, compared to the consensus estimate of $171.98 million. James River Group had a net margin of 6.90% and a return on equity of 12.01%. As a group, equities research analysts predict that James River Group will post -0.35 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.04 annualized dividend and a yield of 0.6%. James River Group’s dividend payout ratio is 5.48%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Zimmer Partners LP raised its stake in shares of James River Group by 53.8% during the 3rd quarter. Zimmer Partners LP now owns 4,591,638 shares of the insurance provider’s stock worth $25,484,000 after purchasing an additional 1,605,828 shares in the last quarter. Enstar Group LTD bought a new position in shares of James River Group in the fourth quarter valued at $16,477,000. Donald Smith & CO. Inc. increased its holdings in James River Group by 434.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,671,220 shares of the insurance provider’s stock worth $10,629,000 after buying an additional 1,358,785 shares during the last quarter. RBF Capital LLC increased its holdings in James River Group by 5.0% during the fourth quarter. RBF Capital LLC now owns 1,050,000 shares of the insurance provider’s stock worth $6,678,000 after buying an additional 50,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in James River Group by 10.5% during the second quarter. Geode Capital Management LLC now owns 1,002,499 shares of the insurance provider’s stock worth $5,875,000 after acquiring an additional 95,351 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.