James River Group (NASDAQ:JRVR) Upgraded by Wall Street Zen to “Buy” Rating

James River Group (NASDAQ:JRVR) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently issued reports on JRVR. Weiss Ratings raised James River Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday. Compass Point downgraded James River Group from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research note on Tuesday, December 16th. Raymond James Financial set a $7.00 price target on James River Group in a research report on Tuesday, December 16th. Zacks Research cut James River Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Truist Financial increased their price objective on James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.80.

James River Group Stock Up 0.5%

Shares of JRVR stock opened at $6.47 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.42. James River Group has a 1 year low of $3.73 and a 1 year high of $7.20. The firm’s fifty day moving average price is $6.65 and its two-hundred day moving average price is $6.01. The firm has a market capitalization of $297.43 million, a P/E ratio of 8.86 and a beta of -0.06.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings results on Monday, March 2nd. The insurance provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). James River Group had a return on equity of 12.01% and a net margin of 6.90%.The business had revenue of $167.75 million for the quarter, compared to the consensus estimate of $171.98 million. On average, equities analysts predict that James River Group will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On James River Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JRVR. Jane Street Group LLC boosted its position in James River Group by 13.0% during the first quarter. Jane Street Group LLC now owns 25,297 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 2,918 shares during the period. Boston Partners lifted its stake in shares of James River Group by 34.0% during the 2nd quarter. Boston Partners now owns 685,597 shares of the insurance provider’s stock worth $4,018,000 after buying an additional 173,981 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of James River Group by 10.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,002,499 shares of the insurance provider’s stock worth $5,875,000 after buying an additional 95,351 shares during the period. Brandywine Global Investment Management LLC acquired a new position in James River Group in the 2nd quarter valued at about $99,000. Finally, Invesco Ltd. grew its stake in James River Group by 7.6% in the 2nd quarter. Invesco Ltd. now owns 298,243 shares of the insurance provider’s stock valued at $1,748,000 after buying an additional 20,954 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.