BidaskClub Downgrades James River Group (JRVR) to Sell

BidaskClub lowered shares of James River Group (NASDAQ:JRVR) from a hold rating to a sell rating in a research report released on Tuesday.

A number of other brokerages have also recently issued reports on JRVR. Zacks Investment Research cut shares of James River Group from a hold rating to a sell rating in a report on Friday, October 20th. JMP Securities began coverage on shares of James River Group in a report on Tuesday, October 17th. They issued an outperform rating and a $47.00 price objective for the company. B. Riley reiterated a buy rating on shares of James River Group in a report on Monday, November 6th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $42.00 price objective on shares of James River Group in a report on Friday, August 18th. Finally, ValuEngine cut shares of James River Group from a buy rating to a hold rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $47.00.

Shares of James River Group (JRVR) traded up $0.83 during trading hours on Tuesday, reaching $40.48. 481,356 shares of the company were exchanged, compared to its average volume of 229,258. The company has a market capitalization of $1,174.10, a PE ratio of 18.02 and a beta of 0.50. James River Group has a 12-month low of $37.24 and a 12-month high of $46.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.25 and a quick ratio of 0.25.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.03. The firm had revenue of $220.87 million during the quarter, compared to analysts’ expectations of $198.67 million. James River Group had a net margin of 8.98% and a return on equity of 9.36%. James River Group’s revenue for the quarter was up 45.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. equities analysts anticipate that James River Group will post 2.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be given a dividend of $0.80 per share. This is a positive change from James River Group’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, December 14th. This represents a $3.20 dividend on an annualized basis and a yield of 7.91%. James River Group’s payout ratio is currently 140.35%.

In other James River Group news, Director David Zwillinger sold 2,600,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $38.10, for a total transaction of $99,060,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bryan Martin sold 450,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $38.10, for a total transaction of $17,145,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,450,000 shares of company stock valued at $131,445,000. Company insiders own 41.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. QS Investors LLC acquired a new position in James River Group during the 2nd quarter worth $236,000. New York State Common Retirement Fund lifted its position in James River Group by 26.5% during the 2nd quarter. New York State Common Retirement Fund now owns 49,037 shares of the insurance provider’s stock worth $1,948,000 after acquiring an additional 10,265 shares during the last quarter. Royal Bank of Canada raised its position in shares of James River Group by 18.9% during the second quarter. Royal Bank of Canada now owns 17,672 shares of the insurance provider’s stock valued at $702,000 after buying an additional 2,806 shares during the last quarter. State Street Corp raised its position in shares of James River Group by 24.0% during the second quarter. State Street Corp now owns 362,607 shares of the insurance provider’s stock valued at $14,409,000 after buying an additional 70,115 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of James River Group by 45.0% during the third quarter. First Trust Advisors LP now owns 28,222 shares of the insurance provider’s stock valued at $1,171,000 after buying an additional 8,765 shares during the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

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James River Group Company Profile

James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.

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