James River Group (NASDAQ:JRVR) Issues Quarterly Earnings Results

James River Group (NASDAQ:JRVR) announced its quarterly earnings results on Monday. The insurance provider reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.89), Briefing.com reports. James River Group had a negative net margin of 20.84% and a positive return on equity of 3.88%. The business had revenue of $191.50 million during the quarter, compared to analyst estimates of $137.28 million. During the same quarter last year, the company posted $0.48 earnings per share. The company’s revenue was down 8.9% compared to the same quarter last year.

James River Group Stock Down 25.1 %

Shares of NASDAQ JRVR opened at $4.96 on Wednesday. James River Group has a 12-month low of $4.80 and a 12-month high of $11.49. The company’s fifty day simple moving average is $6.47 and its 200 day simple moving average is $7.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.64 and a quick ratio of 0.64.

James River Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.03%. The ex-dividend date was Monday, September 16th. James River Group’s dividend payout ratio is presently -4.94%.

Analyst Ratings Changes

Several equities analysts have issued reports on JRVR shares. JMP Securities decreased their price target on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 6th. Truist Financial reduced their price objective on shares of James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Compass Point reduced their price objective on shares of James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.00.

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.