James River Group (NASDAQ:JRVR) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of James River Group (NASDAQ:JRVR) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Several other research firms have also recently issued reports on JRVR. JMP Securities decreased their target price on shares of James River Group from $11.00 to $8.00 and set a “market outperform” rating for the company in a research note on Friday, December 20th. Compass Point reduced their price objective on shares of James River Group from $7.75 to $6.25 and set a “buy” rating for the company in a research report on Monday, March 10th. Citigroup restated a “hold” rating on shares of James River Group in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods reduced their price objective on shares of James River Group from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, March 13th. Finally, Truist Financial reduced their price objective on shares of James River Group from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.06.

James River Group Stock Performance

JRVR opened at $3.93 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a fifty day moving average price of $4.60 and a 200 day moving average price of $5.31. James River Group has a 1 year low of $3.00 and a 1 year high of $9.56. The stock has a market cap of $179.38 million, a P/E ratio of -0.97 and a beta of 0.04.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, March 3rd. The insurance provider reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.66). James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The firm had revenue of $126.71 million during the quarter, compared to analyst estimates of $159.91 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Equities research analysts anticipate that James River Group will post -0.35 earnings per share for the current year.

James River Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, March 10th. James River Group’s dividend payout ratio (DPR) is -1.38%.

Institutional Investors Weigh In On James River Group

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC raised its position in shares of James River Group by 39.5% in the third quarter. Jane Street Group LLC now owns 90,838 shares of the insurance provider’s stock valued at $570,000 after buying an additional 25,738 shares during the last quarter. SG Americas Securities LLC raised its position in shares of James River Group by 41.6% in the fourth quarter. SG Americas Securities LLC now owns 15,616 shares of the insurance provider’s stock valued at $76,000 after buying an additional 4,586 shares during the last quarter. Barclays PLC raised its position in shares of James River Group by 288.2% in the third quarter. Barclays PLC now owns 43,940 shares of the insurance provider’s stock valued at $275,000 after buying an additional 32,621 shares during the last quarter. Empowered Funds LLC raised its position in shares of James River Group by 4.9% in the fourth quarter. Empowered Funds LLC now owns 118,194 shares of the insurance provider’s stock valued at $576,000 after buying an additional 5,553 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of James River Group by 36.0% in the third quarter. Los Angeles Capital Management LLC now owns 41,976 shares of the insurance provider’s stock valued at $263,000 after purchasing an additional 11,106 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.