Wall Street Zen Upgrades James River Group (NASDAQ:JRVR) to Buy

James River Group (NASDAQ:JRVR) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

JRVR has been the subject of several other research reports. Compass Point cut shares of James River Group from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a research note on Tuesday, December 16th. Raymond James Financial set a $7.00 price objective on shares of James River Group in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of James River Group in a research report on Monday, December 29th. Finally, Zacks Research downgraded James River Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.40.

James River Group Stock Performance

Shares of JRVR stock opened at $6.61 on Friday. The stock has a market capitalization of $303.86 million, a PE ratio of -3.18 and a beta of -0.02. James River Group has a 52-week low of $3.00 and a 52-week high of $6.89. The stock’s 50-day moving average price is $6.13 and its 200 day moving average price is $5.75. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.45.

James River Group (NASDAQ:JRVR) last announced its earnings results on Monday, November 3rd. The insurance provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.06. James River Group had a positive return on equity of 7.11% and a negative net margin of 7.64%.The company had revenue of $172.74 million for the quarter, compared to the consensus estimate of $179.21 million. As a group, equities research analysts forecast that James River Group will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in JRVR. Zimmer Partners LP boosted its position in shares of James River Group by 53.8% in the 3rd quarter. Zimmer Partners LP now owns 4,591,638 shares of the insurance provider’s stock worth $25,484,000 after buying an additional 1,605,828 shares in the last quarter. Geode Capital Management LLC raised its position in James River Group by 10.5% during the second quarter. Geode Capital Management LLC now owns 1,002,499 shares of the insurance provider’s stock worth $5,875,000 after acquiring an additional 95,351 shares during the last quarter. Boston Partners lifted its holdings in shares of James River Group by 7.9% in the third quarter. Boston Partners now owns 739,621 shares of the insurance provider’s stock valued at $4,105,000 after purchasing an additional 54,024 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of James River Group by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 719,379 shares of the insurance provider’s stock valued at $3,993,000 after purchasing an additional 23,226 shares during the last quarter. Finally, Cantor Fitzgerald L. P. increased its stake in shares of James River Group by 37.5% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 434,657 shares of the insurance provider’s stock worth $2,412,000 after purchasing an additional 118,657 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.