Brokerages Set James River Group Holdings, Ltd. (NASDAQ:JRVR) Target Price at $6.40

Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) have been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $6.40.

Several brokerages recently weighed in on JRVR. Weiss Ratings restated a “sell (d-)” rating on shares of James River Group in a research note on Monday, December 29th. Wall Street Zen raised James River Group from a “hold” rating to a “buy” rating in a report on Saturday. Raymond James Financial set a $7.00 price objective on shares of James River Group in a report on Tuesday, December 16th. Zacks Research lowered shares of James River Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Compass Point downgraded shares of James River Group from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research report on Tuesday, December 16th.

James River Group Stock Down 1.2%

NASDAQ:JRVR opened at $6.61 on Friday. The company’s 50-day simple moving average is $6.13 and its 200-day simple moving average is $5.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.64 and a current ratio of 0.64. James River Group has a fifty-two week low of $3.00 and a fifty-two week high of $6.89. The stock has a market capitalization of $303.84 million, a P/E ratio of -3.18 and a beta of -0.02.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, November 3rd. The insurance provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The company had revenue of $172.74 million during the quarter, compared to analysts’ expectations of $179.21 million. James River Group had a negative net margin of 7.64% and a positive return on equity of 7.11%. On average, equities analysts anticipate that James River Group will post -0.35 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.01 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.6%. James River Group’s dividend payout ratio is currently -1.92%.

Institutional Trading of James River Group

A number of hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its stake in James River Group by 13.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,142 shares of the insurance provider’s stock worth $93,000 after purchasing an additional 1,772 shares during the last quarter. Sowell Financial Services LLC lifted its stake in James River Group by 15.4% during the third quarter. Sowell Financial Services LLC now owns 15,000 shares of the insurance provider’s stock worth $83,000 after purchasing an additional 2,000 shares in the last quarter. CWM LLC grew its position in James River Group by 13.8% in the 3rd quarter. CWM LLC now owns 18,479 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 2,240 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of 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 acquiring an additional 2,357 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of James River Group by 13.0% during the first quarter. Jane Street Group LLC now owns 25,297 shares of the insurance provider’s stock worth $106,000 after buying an additional 2,918 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.