James River Group (JRVR) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of James River Group (NASDAQ:JRVR) from a hold rating to a sell rating in a research note published on Tuesday morning.

According to Zacks, “James River Group Holdings, Ltd. is an insurance company which own and operate specialty insurance and reinsurance companies. The Company operates through Excess and Surplus Lines, Specialty Admitted Insurance and Casualty Reinsurance segments. James River Group Holdings, Ltd. is based in Hamilton, Bermuda. “

A number of other brokerages have also recently weighed in on JRVR. JMP Securities assumed coverage on shares of James River Group in a research note on Tuesday, October 17th. They set an outperform rating and a $47.00 price objective for the company. B. Riley reissued a buy rating on shares of James River Group in a research note on Monday, November 6th. Keefe, Bruyette & Woods reissued a hold rating and set a $42.00 price objective on shares of James River Group in a research note on Thursday, September 21st. Finally, BidaskClub cut shares of James River Group from a hold rating to a sell rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $45.00.

James River Group (NASDAQ JRVR) opened at $36.13 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.25 and a current ratio of 0.25. James River Group has a 12 month low of $35.52 and a 12 month high of $46.20. The firm has a market cap of $1,065.13, a P/E ratio of 16.35 and a beta of 0.50.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.03. James River Group had a net margin of 8.98% and a return on equity of 9.36%. The business had revenue of $220.87 million during the quarter, compared to analysts’ expectations of $198.67 million. During the same period last year, the company posted $0.72 EPS. The company’s revenue was up 45.9% on a year-over-year basis. research analysts predict that James River Group will post 2.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Friday, December 15th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $3.20 dividend on an annualized basis and a yield of 8.86%. This is a positive change from James River Group’s previous quarterly dividend of $0.30. James River Group’s dividend payout ratio (DPR) is 140.35%.

In related news, Director Bryan Martin sold 450,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $38.10, for a total transaction of $17,145,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman J Adam Abram sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $38.10, for a total transaction of $15,240,000.00. Following the sale, the chairman now owns 368,247 shares in the company, valued at approximately $14,030,210.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,450,000 shares of company stock worth $131,445,000. 41.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. QS Investors LLC acquired a new stake in James River Group during the second quarter worth approximately $236,000. New York State Common Retirement Fund boosted its position in James River Group by 26.5% during the second quarter. New York State Common Retirement Fund now owns 49,037 shares of the insurance provider’s stock worth $1,948,000 after acquiring an additional 10,265 shares during the last quarter. Royal Bank of Canada boosted its position in James River Group by 18.9% during the second quarter. Royal Bank of Canada now owns 17,672 shares of the insurance provider’s stock worth $702,000 after acquiring an additional 2,806 shares during the last quarter. First Trust Advisors LP boosted its position in James River Group by 45.0% during the third quarter. First Trust Advisors LP now owns 28,222 shares of the insurance provider’s stock worth $1,171,000 after acquiring an additional 8,765 shares during the last quarter. Finally, State Street Corp boosted its position in James River Group by 24.0% during the second quarter. State Street Corp now owns 362,607 shares of the insurance provider’s stock worth $14,409,000 after acquiring an additional 70,115 shares during the last quarter. Hedge funds and other institutional investors own 96.17% of the company’s stock.

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James River Group Company Profile

James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.

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