B. Riley Reiterates “$40.00” Price Target for James River Group (NASDAQ:JRVR)

B. Riley set a $40.00 target price on James River Group (NASDAQ:JRVR) in a research report released on Wednesday morning, TipRanks reports. The firm currently has a hold rating on the insurance provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. Compass Point cut shares of James River Group from a buy rating to a neutral rating and reduced their price target for the stock from $47.00 to $39.00 in a research report on Wednesday, April 3rd. BidaskClub upgraded shares of James River Group from a hold rating to a buy rating in a research report on Friday. Zacks Investment Research upgraded shares of James River Group from a hold rating to a buy rating and set a $51.00 price target on the stock in a research report on Wednesday, May 8th. Finally, ValuEngine cut shares of James River Group from a buy rating to a hold rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. James River Group has a consensus rating of Hold and an average price target of $42.50.

Shares of James River Group stock traded up $0.57 on Wednesday, hitting $47.44. 93,738 shares of the company traded hands, compared to its average volume of 141,371. The firm has a market cap of $1.44 billion, a PE ratio of 20.36 and a beta of 0.50. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.13. James River Group has a 52 week low of $34.08 and a 52 week high of $48.78. The company’s 50-day moving average price is $47.19.

James River Group (NASDAQ:JRVR) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. James River Group had a net margin of 8.05% and a return on equity of 10.63%. The firm had revenue of $220.37 million for the quarter, compared to analysts’ expectations of $218.10 million. As a group, research analysts anticipate that James River Group will post 2.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Friday, September 13th. James River Group’s dividend payout ratio is presently 51.50%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Icon Wealth Partners LLC purchased a new position in James River Group during the first quarter worth $42,000. Aperio Group LLC purchased a new position in James River Group during the second quarter worth $191,000. Everence Capital Management Inc. purchased a new position in James River Group during the second quarter worth $213,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in James River Group during the first quarter worth $207,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in James River Group during the second quarter worth $249,000. Institutional investors own 97.49% of the company’s stock.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

See Also: Earnings Reports

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