James River Group Holdings Ltd (NASDAQ:JRVR) – Research analysts at SunTrust Banks cut their Q1 2018 earnings estimates for James River Group in a note issued to investors on Friday. SunTrust Banks analyst M. Hughes now expects that the insurance provider will post earnings per share of $0.57 for the quarter, down from their previous estimate of $0.58. SunTrust Banks also issued estimates for James River Group’s Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.74 EPS, Q4 2018 earnings at $0.87 EPS, FY2018 earnings at $2.75 EPS, Q2 2019 earnings at $0.63 EPS, Q3 2019 earnings at $0.76 EPS and Q4 2019 earnings at $0.89 EPS.
James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $220.87 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.72 EPS.
Shares of James River Group (NASDAQ JRVR) opened at $35.60 on Monday. The company has a market cap of $1,054.19, a P/E ratio of 15.61 and a beta of 0.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.25 and a quick ratio of 0.25. James River Group has a 12 month low of $35.38 and a 12 month high of $46.20.
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of James River Group during the second quarter worth $124,000. Advisor Group Inc. grew its holdings 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 worth $156,000 after buying an additional 391 shares in the last quarter. Legal & General Group Plc grew its holdings 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 worth $169,000 after buying an additional 748 shares in the last quarter. QS Investors LLC purchased a new stake in shares of James River Group in the second quarter valued at about $236,000. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of James River Group in the second quarter valued at about $239,000. 96.17% of the stock is owned by institutional investors and hedge funds.
In related news, Director Bryan Martin sold 450,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $38.10, for a total value of $17,145,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Zwillinger sold 2,600,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $38.10, for a total transaction of $99,060,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 3,450,000 shares of company stock valued at $131,445,000. 41.00% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Friday, December 15th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 8.99%. The ex-dividend date was Thursday, December 14th. This is a positive change from James River Group’s previous quarterly dividend of $0.30. James River Group’s payout ratio is presently 140.35%.
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James River Group Company Profile
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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