James River Group Holdings Ltd. (NASDAQ:JRVR) had its target price increased by FBR & Co from $36.00 to $40.00 in a research report report published on Tuesday. The brokerage currently has an outperform rating on the stock.
A number of other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of James River Group Holdings from a hold rating to a buy rating and set a $38.00 price objective on the stock in a research note on Saturday, August 6th. Keefe, Bruyette & Woods lifted their price objective on shares of James River Group Holdings from $36.00 to $38.00 and gave the company an outperform rating in a research note on Friday, August 5th. Finally, BMO Capital Markets reiterated an outperform rating and set a $40.00 price objective (up previously from $38.00) on shares of James River Group Holdings in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $39.40.
Shares of James River Group Holdings (NASDAQ:JRVR) traded up 1.78% during midday trading on Tuesday, reaching $36.11. 2,232 shares of the company traded hands. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 18.17 and a beta of 0.58. James River Group Holdings has a 12 month low of $25.86 and a 12 month high of $38.31. The company’s 50 day moving average is $35.90 and its 200-day moving average is $33.87.
James River Group Holdings (NASDAQ:JRVR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $134.51 million for the quarter, compared to analyst estimates of $146.28 million. James River Group Holdings had a net margin of 11.27% and a return on equity of 9.00%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. Equities research analysts forecast that James River Group Holdings will post $2.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 12th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.25%. James River Group Holdings’s dividend payout ratio (DPR) is presently 40.20%.
In related news, CEO Steven J. Hartman sold 10,000 shares of James River Group Holdings stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $35.22, for a total value of $352,200.00. Following the completion of the sale, the chief executive officer now owns 34,453 shares in the company, valued at $1,213,434.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of JRVR. Royal Bank of Canada raised its stake in shares of James River Group Holdings by 33.3% in the second quarter. Royal Bank of Canada now owns 3,809 shares of the company’s stock worth $129,000 after buying an additional 951 shares during the period. BlackRock Inc. raised its stake in shares of James River Group Holdings by 398.0% in the second quarter. BlackRock Inc. now owns 3,889 shares of the company’s stock worth $132,000 after buying an additional 3,108 shares during the period. JPMorgan Chase & Co. raised its stake in shares of James River Group Holdings by 12,238.5% in the second quarter. JPMorgan Chase & Co. now owns 4,812 shares of the company’s stock worth $164,000 after buying an additional 4,773 shares during the period. BlackRock Group LTD raised its stake in James River Group Holdings by 8.4% in the second quarter. BlackRock Group LTD now owns 6,070 shares of the company’s stock valued at $206,000 after buying an additional 469 shares during the last quarter. Finally, BlackRock Advisors LLC raised its stake in James River Group Holdings by 92.4% in the second quarter. BlackRock Advisors LLC now owns 6,722 shares of the company’s stock valued at $228,000 after buying an additional 3,228 shares during the last quarter. Institutional investors and hedge funds own 95.77% of the company’s stock.
James River Group Holdings Company Profile
James River Group Holdings, Ltd. is an insurance holding company. The Company owns and operates a group of specialty insurance and reinsurance companies. 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 excess and surplus commercial lines liability and property insurance.
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