James River Group Holdings, Ltd. (NASDAQ:JRVR) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) have earned a consensus recommendation of “Reduce” from the seven research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $6.4375.

JRVR has been the topic of a number of research reports. Zacks Research upgraded James River Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Citizens Jmp reiterated a “market perform” rating on shares of James River Group in a report on Tuesday, May 5th. Citigroup downgraded shares of James River Group from a “hold” rating to a “market perform” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered shares of James River Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Finally, UBS Group lowered shares of James River Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.00 to $4.75 in a report on Tuesday, May 19th.

Hedge Funds Weigh In On James River Group

A number of hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc boosted its position in James River Group by 176.0% during the 2nd quarter. Versant Capital Management Inc now owns 6,179 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 3,940 shares during the period. Clearstead Advisors LLC increased its holdings in James River Group by 173.9% in the 4th quarter. Clearstead Advisors LLC now owns 7,732 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 4,909 shares in the last quarter. PharVision Advisers LLC purchased a new position in James River Group in the third quarter valued at about $59,000. Cerity Partners LLC purchased a new position in James River Group in the second quarter valued at about $61,000. Finally, M&T Bank Corp acquired a new position in shares of James River Group during the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

James River Group Trading Up 2.0%

JRVR stock opened at $4.70 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.44. The company has a market cap of $217.33 million, a price-to-earnings ratio of 13.82 and a beta of -0.20. The business has a fifty day simple moving average of $4.33 and a 200-day simple moving average of $5.47. James River Group has a 52 week low of $3.76 and a 52 week high of $7.20.

James River Group (NASDAQ:JRVR) last issued its earnings results on Monday, May 4th. The insurance provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). James River Group had a net margin of 4.34% and a return on equity of 10.79%. The firm had revenue of $151.38 million during the quarter, compared to analyst estimates of $155.07 million. On average, equities research analysts expect that James River Group will post 0.8 EPS for the current year.

About James River Group

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.