Truist Financial Cuts James River Group (NASDAQ:JRVR) Price Target to $5.00

James River Group (NASDAQ:JRVR) had its price objective reduced by Truist Financial from $6.00 to $5.00 in a research note released on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the insurance provider’s stock.

JRVR has been the topic of several other reports. JMP Securities dropped their target price on James River Group from $11.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Friday, December 20th. Compass Point dropped their target price on James River Group from $7.75 to $6.25 and set a “buy” rating on the stock in a research note on Monday. Finally, StockNews.com downgraded James River Group from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.06.

James River Group Trading Down 2.2 %

Shares of NASDAQ:JRVR opened at $4.02 on Tuesday. James River Group has a 12-month low of $3.00 and a 12-month high of $9.56. The business’s fifty day simple moving average is $4.67 and its 200-day simple moving average is $5.42. The company has a market capitalization of $183.49 million, a PE ratio of -0.99 and a beta of 0.04. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.38.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings results on Monday, March 3rd. The insurance provider reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.66). James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The company had revenue of $126.71 million during the quarter, compared to analysts’ expectations of $159.91 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. As a group, equities research analysts predict that James River Group will post -0.35 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, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, March 10th. This represents a $0.04 annualized dividend and a yield of 1.00%. James River Group’s payout ratio is presently -1.38%.

Institutional Trading of James River Group

Several large investors have recently added to or reduced their stakes in the company. Zimmer Partners LP purchased a new stake in James River Group during the 4th quarter valued at about $1,343,000. ProShare Advisors LLC purchased a new stake in James River Group during the 4th quarter valued at about $51,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in James River Group by 22.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,028 shares of the insurance provider’s stock valued at $102,000 after purchasing an additional 3,839 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in James River Group by 9.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,111,291 shares of the insurance provider’s stock valued at $5,412,000 after purchasing an additional 93,348 shares during the last quarter. Finally, Cantor Fitzgerald L. P. purchased a new stake in James River Group during the 4th quarter valued at about $429,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

James River Group Company Profile

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.