James River Group (NASDAQ:JRVR) Releases Quarterly Earnings Results, Meets Estimates

James River Group (NASDAQ:JRVR) issued its quarterly earnings data on Wednesday. The insurance provider reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39, Briefing.com reports. James River Group had a negative net margin of 10.80% and a positive return on equity of 13.75%. The business had revenue of $201.13 million during the quarter, compared to analyst estimates of $172.26 million. During the same period last year, the business posted $0.56 earnings per share. James River Group’s quarterly revenue was up 4.9% compared to the same quarter last year.

James River Group Stock Performance

NASDAQ:JRVR traded down $0.55 during mid-day trading on Thursday, reaching $7.97. The company’s stock had a trading volume of 1,414,822 shares, compared to its average volume of 1,158,774. The firm’s fifty day moving average price is $8.77 and its two-hundred day moving average price is $9.55. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.42. The stock has a market cap of $300.15 million, a P/E ratio of -3.77 and a beta of 0.17. James River Group has a 12-month low of $6.35 and a 12-month high of $22.15.

James River Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.20 annualized dividend and a yield of 2.51%. James River Group’s payout ratio is -8.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on JRVR shares. Keefe, Bruyette & Woods dropped their price target on James River Group from $11.00 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. JMP Securities reissued a “market outperform” rating and set a $15.00 price objective on shares of James River Group in a research report on Monday, April 15th. Compass Point raised James River Group from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday, March 22nd. UBS Group lowered their price objective on James River Group from $34.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Finally, Truist Financial lowered their price objective on James River Group from $15.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.33.

James River Group Company Profile

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.