Brokerages Set James River Group Holdings Ltd (NASDAQ:JRVR) PT at $50.50

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James River Group Holdings Ltd (NASDAQ:JRVR) has been given an average rating of “Hold” by the nine analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $50.80.

A number of research analysts recently commented on JRVR shares. Zacks Investment Research raised shares of James River Group from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Saturday, August 15th. Compass Point started coverage on shares of James River Group in a research report on Thursday, September 17th. They issued a “neutral” rating and a $52.00 target price on the stock. TheStreet raised shares of James River Group from a “c” rating to a “b” rating in a research report on Wednesday, July 29th. SunTrust Banks increased their target price on shares of James River Group from $42.00 to $53.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Finally, B. Riley raised their price objective on shares of James River Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th.

In other news, COO Robert Patrick Myron sold 65,000 shares of James River Group stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.70, for a total value of $2,905,500.00. Following the sale, the chief operating officer now owns 253,405 shares of the company’s stock, valued at $11,327,203.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. acquired a new stake in shares of James River Group in the second quarter valued at about $30,000. First Mercantile Trust Co. acquired a new stake in shares of James River Group in the second quarter valued at about $163,000. Bank of Montreal Can lifted its stake in shares of James River Group by 340.9% in the second quarter. Bank of Montreal Can now owns 3,990 shares of the insurance provider’s stock valued at $179,000 after purchasing an additional 3,085 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of James River Group by 141.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,107 shares of the insurance provider’s stock valued at $185,000 after purchasing an additional 2,403 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in shares of James River Group in the second quarter valued at about $206,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Shares of JRVR traded down $1.13 during midday trading on Wednesday, reaching $42.10. The stock had a trading volume of 139,525 shares, compared to its average volume of 185,219. James River Group has a 1-year low of $25.34 and a 1-year high of $52.18. The company’s fifty day simple moving average is $47.35 and its two-hundred day simple moving average is $40.94. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -205.85 and a beta of 0.53. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.73 and a quick ratio of 0.73.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.08. James River Group had a negative net margin of 0.38% and a positive return on equity of 4.42%. The business had revenue of $186.75 million for the quarter, compared to analyst estimates of $188.85 million. On average, sell-side analysts forecast that James River Group will post 2.08 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, September 11th. James River Group’s payout ratio is 85.71%.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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Analyst Recommendations for James River Group (NASDAQ:JRVR)

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