James River Group (JRVR) Downgraded by Zacks Investment Research to Sell

James River Group (NASDAQ:JRVR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “James River Group Holdings, Ltd. is an insurance company which own and operate specialty insurance and reinsurance companies. The Company operates through Excess and Surplus Lines, Specialty Admitted Insurance and Casualty Reinsurance segments. James River Group Holdings, Ltd. is based in Hamilton, Bermuda. “

Other research analysts have also issued reports about the stock. B. Riley lowered shares of James River Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $47.00 to $39.00 in a research note on Thursday, January 4th. JMP Securities began coverage on shares of James River Group in a research note on Tuesday, October 17th. They issued an “outperform” rating and a $47.00 target price on the stock. BidaskClub lowered shares of James River Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $42.00 target price on shares of James River Group in a research note on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. James River Group has an average rating of “Hold” and a consensus price target of $45.00.

James River Group (NASDAQ JRVR) traded up $0.15 during trading hours on Tuesday, reaching $35.97. 332,947 shares of the company were exchanged, compared to its average volume of 286,556. James River Group has a 1-year low of $35.52 and a 1-year high of $46.20. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1,070.00, a price-to-earnings ratio of 15.78 and a beta of 0.50.

James River Group (NASDAQ:JRVR) last posted its earnings results on Wednesday, November 1st. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. James River Group had a net margin of 8.98% and a return on equity of 9.36%. The business had revenue of $220.87 million for the quarter, compared to analyst estimates of $198.67 million. During the same period last year, the business posted $0.72 EPS. James River Group’s revenue was up 45.9% compared to the same quarter last year. equities analysts anticipate that James River Group will post 2.18 EPS for the current fiscal year.

In other James River Group news, Director Bryan Martin sold 450,000 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $38.10, for a total value of $17,145,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David Zwillinger sold 2,600,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $38.10, for a total transaction of $99,060,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,450,000 shares of company stock worth $131,445,000 over the last quarter. 41.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of JRVR. Goldman Sachs Group Inc. grew its position in James River Group by 4,472.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 853,306 shares of the insurance provider’s stock worth $33,902,000 after purchasing an additional 834,645 shares during the last quarter. Principal Financial Group Inc. grew its position in James River Group by 5,366.2% in the 3rd quarter. Principal Financial Group Inc. now owns 722,473 shares of the insurance provider’s stock worth $29,968,000 after purchasing an additional 709,256 shares during the last quarter. Citadel Advisors LLC grew its position in James River Group by 384.0% in the 2nd quarter. Citadel Advisors LLC now owns 414,314 shares of the insurance provider’s stock worth $16,461,000 after purchasing an additional 328,717 shares during the last quarter. Laurion Capital Management LP acquired a new stake in James River Group in the 2nd quarter worth $7,936,000. Finally, Vanguard Group Inc. grew its position in James River Group by 27.1% in the 2nd quarter. Vanguard Group Inc. now owns 894,726 shares of the insurance provider’s stock worth $35,548,000 after purchasing an additional 190,928 shares during the last quarter. Institutional investors own 96.17% of the company’s stock.

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James River Group Company Profile

James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.

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