James River Group (NASDAQ:JRVR) Announces Quarterly Earnings Results

James River Group (NASDAQ:JRVR) posted its earnings results on Monday. The insurance provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.15), FiscalAI reports. The firm had revenue of $151.38 million during the quarter, compared to analyst estimates of $155.07 million. James River Group had a net margin of 6.90% and a return on equity of 12.01%.

James River Group Price Performance

JRVR stock traded down $0.06 during midday trading on Monday, reaching $6.13. 206,485 shares of the stock were exchanged, compared to its average volume of 255,276. James River Group has a 52 week low of $4.54 and a 52 week high of $7.20. The company has a fifty day moving average price of $6.40 and a 200 day moving average price of $6.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $281.80 million, a PE ratio of 8.40 and a beta of -0.03.

James River Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.7%. James River Group’s dividend payout ratio (DPR) is 5.48%.

Analysts Set New Price Targets

JRVR has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Wall Street Zen upgraded James River Group from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Zacks Research cut James River Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings upgraded James River Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.25.

Institutional Trading of James River Group

Several hedge funds and other institutional investors have recently made changes to their positions in JRVR. Cerity Partners LLC acquired a new position in shares of James River Group in the second quarter valued at approximately $61,000. PharVision Advisers LLC acquired a new stake in James River Group during the 3rd quarter worth approximately $59,000. HRT Financial LP bought a new stake in James River Group during the 4th quarter worth approximately $74,000. Jump Financial LLC bought a new stake in James River Group during the 4th quarter worth approximately $76,000. Finally, BNP Paribas Financial Markets increased its position in James River Group by 43.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 13,211 shares of the insurance provider’s stock valued at $77,000 after acquiring an additional 3,971 shares during the period. 95.21% of the stock is currently owned by 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.