Truist Financial Cuts James River Group (NASDAQ:JRVR) Price Target to $8.00

James River Group (NASDAQ:JRVR) had its price target decreased by Truist Financial from $9.00 to $8.00 in a research report released on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the insurance provider’s stock.

A number of other research analysts also recently issued reports on the company. JMP Securities cut their price target on James River Group from $14.00 to $11.00 and set a market outperform rating on the stock in a report on Tuesday. Compass Point lowered their price objective on James River Group from $12.50 to $12.00 and set a buy rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, James River Group presently has a consensus rating of Hold and a consensus target price of $11.17.

James River Group Stock Down 1.0 %

Shares of NASDAQ:JRVR traded down $0.07 on Wednesday, reaching $7.29. The company had a trading volume of 311,921 shares, compared to its average volume of 846,399. James River Group has a 52-week low of $6.35 and a 52-week high of $16.39. The firm’s 50 day simple moving average is $7.76 and its 200-day simple moving average is $8.50. The firm has a market capitalization of $275.75 million, a PE ratio of -3.49 and a beta of 0.16. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.41.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Monday, August 5th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). James River Group had a negative net margin of 10.56% and a positive return on equity of 12.85%. The company had revenue of $188.30 million during the quarter, compared to analysts’ expectations of $169.39 million. During the same quarter in the prior year, the business posted $0.53 earnings per share. The company’s revenue was down 3.3% compared to the same quarter last year. As a group, analysts expect that James River Group will post 1.75 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 2.74%. James River Group’s dividend payout ratio is currently -9.57%.

Institutional Trading of James River Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JRVR. Federated Hermes Inc. lifted its position in James River Group by 125,501.1% during the 4th quarter. Federated Hermes Inc. now owns 113,041 shares of the insurance provider’s stock worth $1,044,000 after acquiring an additional 112,951 shares during the period. Los Angeles Capital Management LLC acquired a new stake in James River Group during the 4th quarter worth about $345,000. Charles Schwab Investment Management Inc. raised its stake in shares of James River Group by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 576,293 shares of the insurance provider’s stock valued at $5,325,000 after buying an additional 60,609 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of James River Group by 50.5% during the 4th quarter. BNP Paribas Financial Markets now owns 70,307 shares of the insurance provider’s stock valued at $650,000 after buying an additional 23,597 shares during the last quarter. Finally, Jump Financial LLC raised its stake in shares of James River Group by 409.1% during the 4th quarter. Jump Financial LLC now owns 115,570 shares of the insurance provider’s stock valued at $1,068,000 after buying an additional 92,870 shares during the last quarter. Institutional investors and hedge funds 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.