JMP Securities Cuts James River Group (NASDAQ:JRVR) Price Target to $8.00

James River Group (NASDAQ:JRVR) had its target price cut by JMP Securities from $11.00 to $8.00 in a report released on Friday morning,Benzinga reports. They currently have a market outperform rating on the insurance provider’s stock.

James River Group Trading Up 1.3 %

Shares of NASDAQ JRVR opened at $4.61 on Friday. James River Group has a twelve month low of $4.35 and a twelve month high of $11.49. The stock has a market cap of $174.39 million, a price-to-earnings ratio of -1.14 and a beta of 0.09. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.38. The company’s fifty day moving average is $5.43 and its 200-day moving average is $6.64.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, November 11th. The insurance provider reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.89). The business had revenue of $191.50 million for the quarter, compared to the consensus estimate of $137.28 million. James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. James River Group’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share. Equities research analysts predict that James River Group will post -0.35 EPS for the current year.

James River Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, December 16th. James River Group’s payout ratio is presently -0.99%.

Institutional Trading of James River Group

Several hedge funds and other institutional investors have recently modified their holdings of JRVR. Sei Investments Co. bought a new position in shares of James River Group during the second quarter worth about $83,000. SG Americas Securities LLC acquired a new position in James River Group during the 3rd quarter worth approximately $69,000. Quantinno Capital Management LP bought a new position in shares of James River Group during the 3rd quarter worth approximately $122,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of James River Group in the third quarter valued at approximately $157,000. Finally, BBR Partners LLC bought a new stake in shares of James River Group in the third quarter worth $219,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.