James River Group (NASDAQ:JRVR) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of James River Group (NASDAQ:JRVR) from a buy rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

A number of other research analysts have also commented on JRVR. ValuEngine lowered James River Group from a buy rating to a hold rating in a report on Thursday, August 1st. B. Riley set a $45.00 price objective on James River Group and gave the company a hold rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded James River Group from a hold rating to a buy rating and set a $51.00 target price for the company in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. James River Group has an average rating of Hold and a consensus price target of $43.75.

Shares of NASDAQ JRVR opened at $48.71 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.31 and a quick ratio of 0.31. The stock’s fifty day moving average price is $48.06 and its two-hundred day moving average price is $43.81. James River Group has a one year low of $34.08 and a one year high of $50.69. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 20.91 and a beta of 0.50.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. James River Group had a return on equity of 10.62% and a net margin of 8.50%. The firm had revenue of $220.37 million for the quarter, compared to analyst estimates of $218.10 million. On average, equities analysts anticipate that James River Group will post 2.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.46%. James River Group’s payout ratio is 51.50%.

Several large investors have recently added to or reduced their stakes in JRVR. Rockefeller Capital Management L.P. lifted its position in shares of James River Group by 177.0% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 651 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 416 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of James River Group during the 2nd quarter valued at $33,000. Icon Wealth Partners LLC bought a new stake in shares of James River Group during the 1st quarter valued at $42,000. Bank of Montreal Can lifted its position in shares of James River Group by 2,014.6% during the 2nd quarter. Bank of Montreal Can now owns 2,601 shares of the insurance provider’s stock valued at $122,000 after acquiring an additional 2,478 shares during the period. Finally, Aperio Group LLC bought a new stake in shares of James River Group during the 2nd quarter valued at $191,000. Hedge funds and other institutional investors own 94.57% 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.

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