James River Group Holdings Ltd. (NASDAQ:JRVR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

A number of other equities research analysts have also recently issued reports on the stock. FBR & Co upped their price target on shares of James River Group Holdings from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of James River Group Holdings from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, BMO Capital Markets restated an “outperform” rating and set a $40.00 price target (up from $38.00) on shares of James River Group Holdings in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $39.00.

James River Group Holdings (NASDAQ:JRVR) opened at 36.65 on Wednesday. The stock’s 50 day moving average price is $35.92 and its 200 day moving average price is $33.84. The firm has a market capitalization of $1.07 billion, a P/E ratio of 18.44 and a beta of 0.58. James River Group Holdings has a 12 month low of $25.86 and a 12 month high of $38.31.

James River Group Holdings (NASDAQ:JRVR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. James River Group Holdings had a net margin of 11.27% and a return on equity of 9.00%. The company earned $134.51 million during the quarter, compared to analysts’ expectations of $146.28 million. During the same period in the prior year, the company earned $0.42 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, analysts forecast that James River Group Holdings will post $2.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 12th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, September 8th. James River Group Holdings’s payout ratio is presently 40.20%.

In related news, CEO Steven J. Hartman sold 10,000 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $35.22, for a total value of $352,200.00. Following the completion of the sale, the chief executive officer now owns 34,453 shares in the company, valued at $1,213,434.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 12.20% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in James River Group Holdings by 33.3% in the second quarter. Royal Bank of Canada now owns 3,809 shares of the company’s stock valued at $129,000 after buying an additional 951 shares during the last quarter. BlackRock Inc. raised its position in James River Group Holdings by 398.0% in the second quarter. BlackRock Inc. now owns 3,889 shares of the company’s stock valued at $132,000 after buying an additional 3,108 shares during the period. JPMorgan Chase & Co. raised its position in James River Group Holdings by 12,238.5% in the second quarter. JPMorgan Chase & Co. now owns 4,812 shares of the company’s stock valued at $164,000 after buying an additional 4,773 shares during the period. BlackRock Group LTD raised its position in James River Group Holdings by 8.4% in the second quarter. BlackRock Group LTD now owns 6,070 shares of the company’s stock valued at $206,000 after buying an additional 469 shares during the period. Finally, BlackRock Advisors LLC raised its position in James River Group Holdings by 92.4% in the second quarter. BlackRock Advisors LLC now owns 6,722 shares of the company’s stock valued at $228,000 after buying an additional 3,228 shares during the period. Institutional investors and hedge funds own 95.77% of the company’s stock.

James River Group Holdings Company Profile

James River Group Holdings, Ltd. is an insurance holding company. The Company owns and operates a group of specialty insurance and reinsurance companies. 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 excess and surplus commercial lines liability and property insurance.

5 Day Chart for NASDAQ:JRVR

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