Truist Financial Cuts James River Group (NASDAQ:JRVR) Price Target to $5.00

James River Group (NASDAQ:JRVR) had its target price reduced by Truist Financial from $6.00 to $5.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a hold rating on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the stock. UBS Group cut shares of James River Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $4.75 in a research report on Tuesday, May 19th. Wall Street Zen upgraded James River Group from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Citizens Jmp reissued a “market perform” rating on shares of James River Group in a research report on Tuesday, May 5th. Zacks Research upgraded shares of James River Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings downgraded shares of James River Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, James River Group currently has a consensus rating of “Reduce” and an average price target of $5.94.

James River Group Price Performance

James River Group stock opened at $4.17 on Wednesday. The stock has a market capitalization of $192.82 million, a P/E ratio of 10.97 and a beta of -0.20. The company’s fifty day moving average price is $4.40 and its 200 day moving average price is $5.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.64 and a current ratio of 0.63. James River Group has a 1 year low of $3.76 and a 1 year high of $7.20.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings data on Monday, August 10th. The insurance provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). James River Group had a return on equity of 9.93% and a net margin of 4.68%.The company had revenue of $161.34 million for the quarter, compared to analyst estimates of $135.50 million. As a group, equities research analysts anticipate that James River Group will post 0.74 earnings per share for the current fiscal year.

James River Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.04 annualized dividend and a dividend yield of 1.0%. James River Group’s dividend payout ratio (DPR) is presently 10.53%.

Institutional Investors Weigh In On James River Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in James River Group by 13.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,142 shares of the insurance provider’s stock valued at $93,000 after acquiring an additional 1,772 shares during the last quarter. Cerity Partners LLC increased its holdings in James River Group by 15.5% in the fourth quarter. Cerity Partners LLC now owns 15,388 shares of the insurance provider’s stock valued at $98,000 after buying an additional 2,062 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in James River Group by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 97,492 shares of the insurance provider’s stock valued at $571,000 after buying an additional 2,357 shares in the last quarter. Jane Street Group LLC raised its holdings 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 last quarter. Finally, Barclays PLC raised its stake in shares of James River Group by 6.1% during the 4th quarter. Barclays PLC now owns 60,941 shares of the insurance provider’s stock worth $388,000 after buying an additional 3,528 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

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.