In a report published on Friday, the rating went from 'hold' to 'buy.
Several other brokerages also published reports on JRVR. Barclays reduced their price target for James River Group in a report published on Wednesday, April 12, from $24.00 down to $21.00. They also assigned the company an equal weight rating. JMP Securities reduced its price objective for shares of James River Group in a research report on Tuesday, 18th April from $36.00 down to $32.00. During Friday's trading hours, the stock rose $0.60 to $20.04. 902,253 of the company’s shares were traded, compared with its average volume, which is 185,200. The company's debt-to equity ratio is 0.38. Its current ratio is 0.54, and its quick ratio 0.54. The company has a $753.90 million market capitalization, a P/E of 38.54, and a beta value of 0.39. The company has a 50-day moving price of $20.14, and a 200 day moving price of $21.37. James River Group's 1 year low is $18.78, and its 1 year high is $26.60.
The last time ) announced its quarterly results was on May 2nd. The insurer reported $0.56 in earnings per share for the quarter. This was $0.04 higher than analysts' expectations of $0.52. The company had a revenue of $235.60 millions during the quarter compared with analyst estimates of only $218.45. James River Group's return on equity was 14.57%, and its net margin was 2.97%. James River Group’s quarterly revenue increased 16.7% year-over-year. In the same quarter last year, the company earned $0.37 per share. Analysts expect James River Group to post 2.15 earnings for the current fiscal year.
Hedge Funds weigh in on James River Group
Several large investors recently changed their positions on JRVR. Federated Hermes Inc. purchased a new position of shares in James River Group worth $37,000 during the third quarter. Point72 Hong Kong Ltd has increased its holdings in James River Group shares by 218,7% during the second quarter. Point72 Hong Kong Ltd owns 1,654 of the insurance provider’s stock, valued at $41,000. This is after purchasing an additional 1,135 share during the period. Tower Research Capital LLC TRC has increased its holdings in James River Group shares by 839.5% during the first quarter. Tower Research Capital LLC TRC owns 2,236 of the insurance provider’s stock worth $46,000, after purchasing an additional 1,998 during the period. Quarry LP purchased a new share of James River Group valued at $48,000 in the first quarter. Captrust Financial Advisors increased their position in James River Group shares by 326.0% during the second quarter. Captrust Financial Advisors owns now 1,968 shares valued at $49,000 of the stock of the insurance provider after adding 1,506 additional shares over the period. Institutional investors and hedge fund own 99.69%.
James River Group Company profile
James River Group Holdings Ltd. is engaged in the ownership and management of a group specialty insurance and reinsurance firms. It is divided into four segments: Excess and Surplus Lines; Specialty Admitted Insurance; Casualty Reinsurance and Corporate and Other. The Excess and Surplus Lines Segment offers E&S liability and property products.
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