James River Group (NASDAQ:JRVR) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

James River Group Holdings, Ltd. (NASDAQ:JRVR) shares passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $3.82 and traded as high as $3.86. James River Group shares last traded at $3.85, with a volume of 288,101 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JRVR. Weiss Ratings raised shares of James River Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Zacks Research raised shares of James River Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Truist Financial cut their price objective on shares of James River Group from $6.00 to $5.00 and set a “hold” rating for the company in a report on Wednesday, August 12th. Finally, UBS Group decreased their price objective on shares of James River Group from $4.75 to $4.00 and set a “neutral” rating for the company in a research report on Monday, August 17th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, James River Group has an average rating of “Reduce” and a consensus price target of $5.75.

James River Group Trading Up 2.1%

The company’s fifty day simple moving average is $3.82 and its 200-day simple moving average is $5.03. The firm has a market capitalization of $178.06 million, a PE ratio of 10.13 and a beta of -0.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.63 and a quick ratio of 0.63.

James River Group (NASDAQ:JRVR) last released its earnings results on Tuesday, August 11th. The insurance provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $161.34 million for the quarter, compared to analysts’ expectations of $135.50 million. James River Group had a return on equity of 9.93% and a net margin of 4.68%. As a group, sell-side analysts expect that James River Group Holdings, Ltd. will post 0.65 earnings per share for the current fiscal year.

James River Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.04 dividend on an annualized basis and a yield of 1.0%. James River Group’s dividend payout ratio (DPR) is currently 10.53%.

Institutional Investors Weigh In On James River Group

Several institutional investors have recently bought and sold shares of JRVR. Donald Smith & CO. Inc. acquired a new position in shares of James River Group during the second quarter valued at approximately $10,738,000. Bank of New York Mellon Corp purchased a new position in shares of James River Group in the second quarter valued at approximately $562,000. Hillsdale Investment Management Inc. lifted its position in shares of James River Group by 45.5% in the first quarter. Hillsdale Investment Management Inc. now owns 448,860 shares of the insurance provider’s stock valued at $2,828,000 after acquiring an additional 140,400 shares in the last quarter. Bronte Capital Management Pty Ltd. lifted its position in shares of James River Group by 174.3% in the first quarter. Bronte Capital Management Pty Ltd. now owns 338,961 shares of the insurance provider’s stock valued at $2,135,000 after acquiring an additional 215,386 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in shares of James River Group in the first quarter worth approximately $253,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

About James River Group

James River Group Holdings, Ltd. (NASDAQ: JRVR) is a specialty insurance holding company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides commercial casualty insurance and reinsurance products to businesses and other insurance organizations.

The company’s operations have included excess and surplus lines insurance, specialty admitted insurance and casualty reinsurance. Its products are designed for risks that may require customized underwriting or coverage that is not readily available through standard commercial insurance markets.