James River Group (NASDAQ:JRVR) Announces Earnings Results

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

James River Group Price Performance

JRVR stock opened at $4.96 on Wednesday. The company has a 50 day simple moving average of $6.47 and a 200 day simple moving average of $7.32. James River Group has a 1 year low of $4.80 and a 1 year high of $11.49. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37.

James River Group Dividend Announcement

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

Analyst Upgrades and Downgrades

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