James River Group (NASDAQ:JRVR) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of James River Group (NASDAQ:JRVR) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued reports about the company. Citigroup restated a “hold” rating on shares of James River Group in a research note on Tuesday, March 11th. Compass Point dropped their price target on James River Group from $7.75 to $6.25 and set a “buy” rating for the company in a research note on Monday, March 10th. Truist Financial dropped their price target on James River Group from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Keefe, Bruyette & Woods lowered their target price on James River Group from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, March 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of James River Group in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.06.

James River Group Stock Performance

NASDAQ JRVR opened at $5.44 on Friday. The company has a market capitalization of $249.66 million, a PE ratio of -1.34 and a beta of 0.02. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.38. The business’s 50-day moving average price is $4.51 and its 200 day moving average price is $4.60. James River Group has a twelve month low of $3.00 and a twelve month high of $8.99.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Monday, May 5th. The insurance provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.05). The firm had revenue of $172.29 million for the quarter, compared to analyst estimates of $184.15 million. James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. On average, research analysts predict that James River Group will post -0.35 earnings per share for the current year.

James River Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.01 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.74%. James River Group’s dividend payout ratio (DPR) is currently -1.29%.

Insider Activity

In other James River Group news, Director Peter B. Migliorato purchased 18,500 shares of James River Group stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average price of $5.46 per share, with a total value of $101,010.00. Following the completion of the acquisition, the director now owns 39,201 shares of the company’s stock, valued at approximately $214,037.46. This trade represents a 89.37% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine Lasala purchased 29,125 shares of James River Group stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average cost of $5.23 per share, with a total value of $152,323.75. Following the acquisition, the director now directly owns 60,758 shares of the company’s stock, valued at $317,764.34. The trade was a 92.07% increase in their position. The disclosure for this purchase can be found here. Insiders own 16.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG purchased a new position in James River Group in the first quarter valued at about $25,000. Aquatic Capital Management LLC purchased a new position in James River Group in the fourth quarter valued at about $41,000. ProShare Advisors LLC bought a new position in James River Group during the 4th quarter worth approximately $51,000. Simplicity Wealth LLC bought a new position in James River Group during the 1st quarter worth approximately $51,000. Finally, Quantbot Technologies LP lifted its holdings in James River Group by 24.8% during the 4th quarter. Quantbot Technologies LP now owns 12,556 shares of the insurance provider’s stock worth $61,000 after buying an additional 2,498 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.