James River Group (NASDAQ:JRVR) Stock Price Passes Above 50 Day Moving Average of $8.77

James River Group Holdings, Ltd. (NASDAQ:JRVR)’s stock price passed 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 traded.

Wall Street Analyst Weigh In

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

James River Group Trading Down 1.5 %

The business’s fifty day simple moving average is $8.77 and its two-hundred day simple moving average is $9.55. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.42. The company has a market cap of $320.86 million, a price-to-earnings ratio of -3.77 and a beta of 0.17.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Wednesday, February 28th. The insurance provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). The company had revenue of $218.10 million during the quarter, compared to analysts’ expectations of $216.80 million. James River Group had a negative net margin of 10.80% and a positive return on equity of 13.75%. On average, equities analysts predict that James River Group Holdings, Ltd. will post 1.75 EPS for the current year.

James River Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Friday, March 8th. James River Group’s dividend payout ratio (DPR) is -8.85%.

Institutional Trading of James River Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. lifted its position in James River Group by 20.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,997,793 shares of the insurance provider’s stock worth $30,666,000 after acquiring an additional 342,090 shares during the period. AQR Capital Management LLC lifted its holdings 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 worth $5,172,000 after purchasing an additional 271,613 shares during the period. Federated Hermes Inc. increased its stake in James River Group by 125,501.1% in the 4th quarter. Federated Hermes Inc. now owns 113,041 shares of the insurance provider’s stock valued at $1,044,000 after buying an additional 112,951 shares during the period. Boston Partners purchased a new position in James River Group during the 3rd quarter worth $1,704,000. Finally, Steamboat Capital Partners LLC acquired a new stake in shares of James River Group in the 1st quarter worth $930,000. 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.