James River Group Holdings, Ltd. (JRVR) Receives $47.00 Consensus Target Price from Analysts
Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) have been assigned a consensus rating of “Hold” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $47.00.
A number of brokerages recently commented on JRVR. Zacks Investment Research cut James River Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. BidaskClub downgraded James River Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $42.00 price target on shares of James River Group in a report on Friday, August 18th. ValuEngine downgraded James River Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, JMP Securities began coverage on James River Group in a research report on Tuesday, October 17th. They issued an “outperform” rating and a $47.00 price objective on the stock.
James River Group (JRVR) traded up $0.30 during trading hours on Friday, hitting $39.23. 334,900 shares of the stock were exchanged, compared to its average volume of 144,695. James River Group has a 12 month low of $37.24 and a 12 month high of $46.20. The company has a market capitalization of $1,145.68, a price-to-earnings ratio of 17.59 and a beta of 0.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.25 and a current ratio of 0.25.
James River Group (NASDAQ:JRVR) last released its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.03. The company had revenue of $220.87 million for the quarter, compared to analyst estimates of $198.67 million. James River Group had a net margin of 8.98% and a return on equity of 9.36%. The company’s quarterly revenue was up 45.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. research analysts expect that James River Group will post 2.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from James River Group’s previous quarterly dividend of $0.30. This represents a $3.20 annualized dividend and a dividend yield of 8.16%. James River Group’s dividend payout ratio is 52.63%.
In other James River Group news, Chairman J Adam Abram sold 400,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $38.10, for a total value of $15,240,000.00. Following the completion of the sale, the chairman now owns 368,247 shares in the company, valued at approximately $14,030,210.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David Zwillinger sold 2,600,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $38.10, for a total value of $99,060,000.00. The disclosure for this sale can be found here. Corporate insiders own 41.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of James River Group in the second quarter valued at about $124,000. Advisor Group Inc. grew its stake in shares of James River Group by 11.0% during the second quarter. Advisor Group Inc. now owns 3,937 shares of the insurance provider’s stock valued at $156,000 after buying an additional 391 shares during the last quarter. Legal & General Group Plc grew its stake in shares of James River Group by 21.4% during the second quarter. Legal & General Group Plc now owns 4,248 shares of the insurance provider’s stock valued at $169,000 after buying an additional 748 shares during the last quarter. Bank of Montreal Can bought a new position in shares of James River Group during the second quarter valued at approximately $203,000. Finally, QS Investors LLC bought a new position in shares of James River Group during the second quarter valued at approximately $236,000. 96.25% of the stock is owned by institutional investors.
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About James River Group
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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