Barclays Boosts James River Group (NASDAQ:JRVR) Price Target to $24.00

James River Group (NASDAQ:JRVR – Get Rating) had its target price boosted by Barclays from $22.00 to $24.00 in a report issued on Wednesday, The Fly reports. They currently have an equal weight rating on the insurance provider’s stock.

A number of other equities analysts have also weighed in on the company. StockNews.com raised James River Group from a sell rating to a hold rating in a research report on Tuesday, November 8th. Compass Point lowered James River Group from a buy rating to a neutral rating and decreased their target price for the stock from $30.00 to $28.50 in a research report on Wednesday, November 2nd.

James River Group Price Performance

JRVR opened at $24.43 on Wednesday. The stock has a 50-day moving average price of $22.14 and a 200-day moving average price of $23.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.54 and a quick ratio of 0.59. The firm has a market cap of $916.61 million, a PE ratio of 41.41 and a beta of 0.39. James River Group has a 1 year low of $19.76 and a 1 year high of $26.60.

James River Group (NASDAQ:JRVR – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $225.71 million during the quarter, compared to analyst estimates of $212.47 million. James River Group had a return on equity of 12.58% and a net margin of 3.16%. James River Group’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.81) EPS. Sell-side analysts predict that James River Group will post 2.15 earnings per share for the current fiscal year.

James River Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Monday, March 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, March 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.82%. James River Group’s dividend payout ratio is currently 33.90%.

Institutional Investors Weigh In On James River Group

A number of large investors have recently made changes to their positions in JRVR. Fuller & Thaler Asset Management Inc. grew its stake in shares of James River Group by 163.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,380,574 shares of the insurance provider’s stock valued at $34,155,000 after purchasing an additional 857,178 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of James River Group by 663.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 524,500 shares of the insurance provider’s stock valued at $12,997,000 after acquiring an additional 455,800 shares during the period. Jennison Associates LLC grew its stake in shares of James River Group by 64.8% during the 3rd quarter. Jennison Associates LLC now owns 1,092,412 shares of the insurance provider’s stock valued at $24,918,000 after acquiring an additional 429,730 shares during the period. Wellington Management Group LLP grew its stake in shares of James River Group by 41.9% during the 1st quarter. Wellington Management Group LLP now owns 934,787 shares of the insurance provider’s stock valued at $23,126,000 after acquiring an additional 275,981 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of James River Group by 8.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,583,161 shares of the insurance provider’s stock valued at $74,924,000 after acquiring an additional 274,337 shares during the period. 99.69% of the stock is currently owned by institutional investors.

About James River Group

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James River Group Holdings Ltd. engages in the ownership and operation of a group of specialty insurance and reinsurance companies. It operates through the following segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers E&S commercial lines liability and property insurance products.