James River Group (NASDAQ:JRVR) Stock Price Crosses Above Fifty Day Moving Average of $8.77

Shares of James River Group Holdings, Ltd. (NASDAQ:JRVR) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $8.77 and traded as high as $8.78. James River Group shares last traded at $8.52, with a volume of 1,377,721 shares.

Analysts Set New Price Targets

JRVR has been the topic of a number of research reports. UBS Group lowered their target price on James River Group from $34.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Keefe, Bruyette & Woods reduced their price objective on shares of James River Group from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Thursday, March 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 price target on shares of James River Group in a research report on Monday, April 15th. Truist Financial decreased their price objective on James River Group from $15.00 to $11.00 and set a “hold” rating for the company in a report on Friday, March 1st. Finally, Compass Point upgraded James River Group from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.33.

James River Group Stock Down 1.5 %

The stock has a 50-day simple moving average of $8.77 and a 200-day simple moving average of $9.55. The firm has a market capitalization of $320.86 million, a PE ratio of -3.77 and a beta of 0.17. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.42.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Wednesday, February 28th. The insurance provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.10). The firm had revenue of $218.10 million for the quarter, compared to the consensus estimate of $216.80 million. James River Group had a negative net margin of 10.80% and a positive return on equity of 13.75%. Analysts forecast that James River Group Holdings, Ltd. will post 1.75 EPS for the current year.

James River Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.20 annualized dividend and a dividend yield of 2.35%. James River Group’s payout ratio is presently -8.85%.

Institutional Investors Weigh In On James River Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Graham Capital Management L.P. raised its stake in James River Group by 11.1% in the third quarter. Graham Capital Management L.P. now owns 19,155 shares of the insurance provider’s stock worth $294,000 after buying an additional 1,920 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of James River Group in the 3rd quarter valued at approximately $169,000. AQR Capital Management LLC boosted its position in shares of James River Group by 415.9% during the third quarter. AQR Capital Management LLC now owns 336,920 shares of the insurance provider’s stock valued at $5,172,000 after purchasing an additional 271,613 shares in the last quarter. Boston Partners purchased a new stake in James River Group in the third quarter worth $1,704,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in James River Group by 88.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 133,297 shares of the insurance provider’s stock worth $2,046,000 after purchasing an additional 62,596 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

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.