James River Group (NASDAQ:JRVR) Raised to Buy at Wall Street Zen

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.

JRVR has been the subject of several other research reports. Compass Point lowered shares of James River Group from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research report on Tuesday, December 16th. Raymond James Financial set a $7.00 price objective on shares of James River Group in a research report on Tuesday, December 16th. Zacks Research cut shares of James River Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Truist Financial increased their target price on shares of James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings upgraded shares of James River Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, James River Group currently has a consensus rating of “Hold” and a consensus price target of $6.80.

James River Group Stock Up 0.5%

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

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

Institutional Investors Weigh In On James River Group

Several institutional investors have recently added to or reduced their stakes in the business. Boston Partners increased its stake in shares of James River Group by 34.0% in the second quarter. Boston Partners now owns 685,597 shares of the insurance provider’s stock worth $4,018,000 after purchasing an additional 173,981 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in shares of James River Group during the 2nd quarter valued at approximately $99,000. Kennedy Capital Management LLC lifted its stake in shares of James River Group by 47.8% during the 2nd quarter. Kennedy Capital Management LLC now owns 432,568 shares of the insurance provider’s stock valued at $2,535,000 after buying an additional 139,883 shares in the last quarter. M&T Bank Corp bought a new position in James River Group in the 4th quarter worth approximately $65,000. Finally, R Squared Ltd boosted its holdings in James River Group by 46.0% in the 4th quarter. R Squared Ltd now owns 15,713 shares of the insurance provider’s stock worth $100,000 after buying an additional 4,950 shares during the period. 95.21% of the stock is owned by hedge funds and other 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.