James River Group (NASDAQ:JRVR) Announces Quarterly Earnings Results, Misses Expectations By $0.09 EPS

James River Group (NASDAQ:JRVR) released its quarterly earnings results on Monday. The insurance provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09), Briefing.com reports. The company had revenue of $188.30 million during the quarter, compared to analysts’ expectations of $169.39 million. James River Group had a negative net margin of 10.56% and a positive return on equity of 12.85%. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was down 3.3% compared to the same quarter last year.

James River Group Stock Performance

Shares of NASDAQ:JRVR traded up $0.31 during midday trading on Wednesday, hitting $7.45. The company had a trading volume of 219,869 shares, compared to its average volume of 853,183. The company has a fifty day moving average of $7.77 and a two-hundred day moving average of $8.54. James River Group has a 12-month low of $6.35 and a 12-month high of $17.50. 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 company has a market cap of $281.80 million, a price-to-earnings ratio of -3.42 and a beta of 0.16.

James River Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, September 16th. This represents a $0.20 annualized dividend and a yield of 2.68%. James River Group’s dividend payout ratio (DPR) is -9.57%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JMP Securities cut their price objective on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday. Truist Financial reduced their price target on James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Compass Point decreased their price objective on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.17.

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.