James River Group (NASDAQ:JRVR) Given New $8.00 Price Target at JMP Securities

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

James River Group Stock Up 1.3 %

JRVR opened at $4.61 on Friday. James River Group has a fifty-two week low of $4.35 and a fifty-two week high of $11.49. 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 company’s 50-day moving average is $5.47 and its 200 day moving average is $6.67. The firm has a market capitalization of $174.39 million, a P/E ratio of -1.14 and a beta of 0.09.

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

James River Group Cuts Dividend

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

Institutional Trading of James River Group

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of James River Group during the 3rd quarter worth approximately $69,000. Sei Investments Co. bought a new position in James River Group during the second quarter valued at $83,000. Quantinno Capital Management LP purchased a new stake in James River Group in the third quarter worth $122,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of James River Group in the third quarter valued at $157,000. Finally, BBR Partners LLC purchased a new position in shares of James River Group during the 3rd quarter valued at $219,000. 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.