James River Group Holdings Ltd (NASDAQ:JRVR) has been assigned an average rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $42.50.
A number of research firms recently commented on JRVR. BidaskClub raised shares of James River Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 5th. Zacks Investment Research cut shares of James River Group from a “hold” rating to a “sell” rating in a report on Saturday, May 5th. ValuEngine raised shares of James River Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Keefe, Bruyette & Woods raised shares of James River Group from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Thursday, March 15th. Finally, SunTrust Banks decreased their price target on shares of James River Group to $44.00 and set a “buy” rating for the company in a report on Monday, February 26th.
In other James River Group news, insider E. Shaw Oculus Portfolios D. sold 3,297,238 shares of the stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $36.00, for a total transaction of $118,700,568.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael T. Oakes sold 17,305 shares of the stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $36.51, for a total transaction of $631,805.55. Following the transaction, the director now directly owns 25,665 shares in the company, valued at $937,029.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,337,238 shares of company stock worth $120,183,663. 15.00% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Swiss National Bank raised its stake in James River Group by 13.5% during the fourth quarter. Swiss National Bank now owns 42,099 shares of the insurance provider’s stock worth $1,684,000 after purchasing an additional 5,000 shares during the period. American International Group Inc. raised its stake in James River Group by 16.6% during the fourth quarter. American International Group Inc. now owns 17,200 shares of the insurance provider’s stock worth $688,000 after purchasing an additional 2,443 shares during the period. Allianz Asset Management GmbH raised its stake in James River Group by 731.1% during the fourth quarter. Allianz Asset Management GmbH now owns 104,829 shares of the insurance provider’s stock worth $4,194,000 after purchasing an additional 92,216 shares during the period. Sterling Capital Management LLC purchased a new position in James River Group during the fourth quarter worth about $1,076,000. Finally, Schroder Investment Management Group raised its stake in James River Group by 54.2% during the fourth quarter. Schroder Investment Management Group now owns 22,035 shares of the insurance provider’s stock worth $882,000 after purchasing an additional 7,747 shares during the period. 98.61% of the stock is currently owned by hedge funds and other institutional investors.
James River Group traded up $0.02, hitting $40.08, during mid-day trading on Thursday, MarketBeat reports. 187,300 shares of the stock traded hands, compared to its average volume of 312,775. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 25.53 and a beta of 0.47. James River Group has a 52 week low of $32.17 and a 52 week high of $44.34. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.14.
James River Group (NASDAQ:JRVR) last issued its earnings results on Thursday, May 3rd. The insurance provider reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. The business had revenue of $218.34 million for the quarter, compared to the consensus estimate of $214.55 million. James River Group had a net margin of 4.74% and a return on equity of 6.56%. equities analysts forecast that James River Group will post 2.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Monday, June 11th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.99%. James River Group’s payout ratio is currently 76.43%.
About James River Group
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites property and liability insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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