James River Group Holdings, Ltd. (NASDAQ:JRVR) Receives $12.33 Consensus Target Price from Brokerages

James River Group Holdings, Ltd. (NASDAQ:JRVR) has earned an average recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.33.

Several equities analysts have issued reports on the company. Truist Financial dropped their price objective on James River Group from $15.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, March 1st. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price objective on shares of James River Group in a report on Monday, April 15th. UBS Group dropped their price objective on James River Group from $34.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Keefe, Bruyette & Woods dropped their price objective on James River Group from $11.00 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, March 7th. Finally, Compass Point raised James River Group from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Friday, March 22nd.

James River Group Stock Up 1.4 %

James River Group stock opened at $7.81 on Thursday. James River Group has a 1-year low of $6.35 and a 1-year high of $20.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $295.45 million, a PE ratio of -3.74 and a beta of 0.19. The stock’s fifty day moving average is $8.20 and its two-hundred day moving average is $8.82.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. James River Group had a positive return on equity of 12.85% and a negative net margin of 10.56%. The company had revenue of $201.13 million for the quarter, compared to analysts’ expectations of $172.26 million. During the same period last year, the firm earned $0.56 earnings per share. James River Group’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that James River Group will post 1.75 EPS for the current fiscal year.

James River Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Monday, June 10th. James River Group’s dividend payout ratio is currently -9.57%.

Hedge Funds Weigh In On James River Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of James River Group by 22.9% during the first quarter. Vanguard Group Inc. now owns 2,579,287 shares of the insurance provider’s stock worth $23,987,000 after buying an additional 479,823 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of James River Group by 20.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,997,793 shares of the insurance provider’s stock worth $30,666,000 after buying an additional 342,090 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of James River Group by 11.4% during the third quarter. Wellington Management Group LLP now owns 913,534 shares of the insurance provider’s stock worth $14,023,000 after buying an additional 93,726 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in James River Group by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 576,293 shares of the insurance provider’s stock valued at $5,325,000 after purchasing an additional 60,609 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in James River Group by 143.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 512,968 shares of the insurance provider’s stock valued at $4,771,000 after purchasing an additional 302,257 shares during the period. Hedge funds and other institutional investors 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.