James River Group (JRVR) Lifted to Buy at BidaskClub

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BidaskClub upgraded shares of James River Group (NASDAQ:JRVR) from a hold rating to a buy rating in a report issued on Thursday morning.

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered James River Group from a hold rating to a sell rating in a research note on Saturday, May 5th. Keefe, Bruyette & Woods reissued a buy rating and issued a $46.00 price target on shares of James River Group in a research note on Friday, August 3rd. ValuEngine raised James River Group from a sell rating to a hold rating in a research report on Wednesday, May 2nd. Finally, B. Riley upped their target price on James River Group from $35.00 to $38.00 and gave the stock a neutral rating in a research report on Tuesday, August 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. James River Group currently has an average rating of Buy and an average price target of $44.00.

Shares of JRVR opened at $40.83 on Thursday. James River Group has a 52-week low of $32.17 and a 52-week high of $44.34. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 26.01 and a beta of 0.48.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings results on Thursday, August 2nd. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. James River Group had a return on equity of 7.01% and a net margin of 4.88%. The firm had revenue of $228.04 million for the quarter, compared to analyst estimates of $230.70 million. equities analysts predict that James River Group will post 2.35 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Monday, September 10th 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 2.94%. The ex-dividend date of this dividend is Friday, September 7th. James River Group’s payout ratio is 76.43%.

Several large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of James River Group during the second quarter worth approximately $3,535,000. Granahan Investment Management Inc. MA raised its position in shares of James River Group by 1.5% during the second quarter. Granahan Investment Management Inc. MA now owns 92,761 shares of the insurance provider’s stock worth $3,645,000 after purchasing an additional 1,375 shares during the period. Sterling Capital Management LLC raised its position in shares of James River Group by 28.0% during the second quarter. Sterling Capital Management LLC now owns 55,538 shares of the insurance provider’s stock worth $2,182,000 after purchasing an additional 12,132 shares during the period. Bank of America Corp DE raised its position in shares of James River Group by 15.4% during the second quarter. Bank of America Corp DE now owns 78,710 shares of the insurance provider’s stock worth $3,093,000 after purchasing an additional 10,484 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of James River Group by 19.2% during the second quarter. Voya Investment Management LLC now owns 9,544 shares of the insurance provider’s stock worth $375,000 after purchasing an additional 1,536 shares during the period. 98.58% of the stock is currently owned by institutional investors.

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 property and liability insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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