James River Group Holdings, Ltd. (JRVR) Releases Earnings Results, Beats Estimates By $0.03 EPS
James River Group Holdings, Ltd. (NASDAQ:JRVR) posted its earnings results on Wednesday. The insurance provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03, Briefing.com reports. James River Group Holdings had a net margin of 11.45% and a return on equity of 10.80%. The firm had revenue of $220.87 million during the quarter, compared to analyst estimates of $198.67 million. During the same period last year, the firm posted $0.72 earnings per share. James River Group Holdings’s revenue for the quarter was up 45.9% compared to the same quarter last year.
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In other James River Group Holdings news, CEO Steven J. Hartman sold 5,264 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $38.91, for a total value of $204,822.24. Following the completion of the sale, the chief executive officer now directly owns 55,843 shares of the company’s stock, valued at approximately $2,172,851.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven J. Hartman sold 19,736 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $39.42, for a total value of $777,993.12. Following the completion of the sale, the chief executive officer now directly owns 70,315 shares of the company’s stock, valued at $2,771,817.30. The disclosure for this sale can be found here. 41.00% of the stock is currently owned by corporate insiders.
JRVR has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $42.00 target price on shares of James River Group Holdings in a report on Thursday, September 21st. Zacks Investment Research raised shares of James River Group Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. JMP Securities initiated coverage on shares of James River Group Holdings in a report on Tuesday, October 17th. They issued an “outperform” rating and a $47.00 target price for the company. ValuEngine lowered shares of James River Group Holdings from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub lowered shares of James River Group Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $47.00.
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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