James River Group (NASDAQ:JRVR) Announces Earnings Results, Beats Estimates By $0.06 EPS

James River Group (NASDAQ:JRVR) issued its earnings results on Monday. The insurance provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06, Zacks reports. James River Group had a positive return on equity of 7.20% and a negative net margin of 7.64%.The business had revenue of $172.74 million during the quarter, compared to analyst estimates of $179.21 million.

James River Group Trading Down 3.4%

JRVR stock traded down $0.20 during midday trading on Wednesday, hitting $5.75. 94,777 shares of the company’s stock were exchanged, compared to its average volume of 259,636. James River Group has a 1-year low of $3.00 and a 1-year high of $6.77. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $263.86 million, a PE ratio of -2.76 and a beta of 0.03. The business has a 50-day simple moving average of $5.41 and a two-hundred day simple moving average of $5.46.

James River Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, December 15th. James River Group’s dividend payout ratio (DPR) is -1.27%.

Institutional Investors Weigh In On James River Group

A number of institutional investors and hedge funds have recently bought and sold shares of JRVR. Geode Capital Management LLC increased its holdings in James River Group by 10.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,002,499 shares of the insurance provider’s stock valued at $5,875,000 after purchasing an additional 95,351 shares in the last quarter. Invesco Ltd. grew its stake in shares of James River Group by 7.6% during the second quarter. Invesco Ltd. now owns 298,243 shares of the insurance provider’s stock valued at $1,748,000 after acquiring an additional 20,954 shares in the last quarter. First Trust Advisors LP grew its stake in James River Group by 26.2% in the second quarter. First Trust Advisors LP now owns 148,153 shares of the insurance provider’s stock worth $868,000 after purchasing an additional 30,802 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in James River Group by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 97,492 shares of the insurance provider’s stock valued at $571,000 after buying an additional 2,357 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in James River Group by 11.2% in the second quarter. Bridgeway Capital Management LLC now owns 57,800 shares of the insurance provider’s stock valued at $339,000 after buying an additional 5,800 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of James River Group in a research report on Tuesday, October 14th. Zacks Research lowered James River Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.06.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.