James River Group (JRVR) Upgraded at BidaskClub

BidaskClub upgraded shares of James River Group (NASDAQ:JRVR) from a sell rating to a hold rating in a research report sent to investors on Saturday morning, BidAskClub reports.

Several other equities research analysts have also recently weighed in on JRVR. Zacks Investment Research cut shares of James River Group from a buy rating to a hold rating in a research report on Wednesday, January 9th. Compass Point initiated coverage on shares of James River Group in a research report on Tuesday, January 15th. They issued a buy rating and a $44.00 price target on the stock. B. Riley restated a neutral rating on shares of James River Group in a research report on Friday, March 1st. Finally, ValuEngine upgraded shares of James River Group from a hold rating to a buy rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $39.75.

JRVR stock opened at $38.29 on Friday. James River Group has a one year low of $34.08 and a one year high of $43.47. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.16 billion, a PE ratio of 16.43 and a beta of 0.57.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Thursday, February 21st. The insurance provider reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.09). James River Group had a return on equity of 10.15% and a net margin of 7.21%. The business had revenue of $214.52 million during the quarter, compared to the consensus estimate of $214.20 million. On average, equities research analysts predict that James River Group will post 2.53 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Friday, March 8th. James River Group’s dividend payout ratio (DPR) is 51.50%.

In other James River Group news, insider Michael E. Crow sold 7,019 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $40.69, for a total transaction of $285,603.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 15.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in James River Group by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,707,076 shares of the insurance provider’s stock valued at $72,756,000 after acquiring an additional 31,445 shares during the last quarter. BlackRock Inc. increased its position in James River Group by 1.4% during the third quarter. BlackRock Inc. now owns 4,213,604 shares of the insurance provider’s stock valued at $179,583,000 after acquiring an additional 57,916 shares during the last quarter. Bank of New York Mellon Corp increased its position in James River Group by 4.8% during the third quarter. Bank of New York Mellon Corp now owns 334,532 shares of the insurance provider’s stock valued at $14,257,000 after acquiring an additional 15,380 shares during the last quarter. Texas Permanent School Fund increased its position in James River Group by 4.1% during the fourth quarter. Texas Permanent School Fund now owns 19,601 shares of the insurance provider’s stock valued at $716,000 after acquiring an additional 770 shares during the last quarter. Finally, FMR LLC increased its position in James River Group by 8.7% during the third quarter. FMR LLC now owns 626,765 shares of the insurance provider’s stock valued at $26,712,000 after acquiring an additional 50,410 shares during the last quarter. Institutional investors and hedge funds own 98.09% of the company’s stock.

About James River Group

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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