B. Riley Lowers James River Group (JRVR) to Neutral

James River Group (NASDAQ:JRVR) was downgraded by equities research analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Thursday. They presently have a $39.00 price target on the insurance provider’s stock, down from their previous price target of $47.00. B. Riley’s price objective points to a potential downside of 2.23% from the company’s previous close.

Several other research firms have also commented on JRVR. BidaskClub upgraded shares of James River Group from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Zacks Investment Research upgraded shares of James River Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $42.00 price objective on shares of James River Group in a research report on Thursday, September 21st. Finally, JMP Securities initiated coverage on shares of James River Group in a research report on Tuesday, October 17th. They issued an “outperform” rating and a $47.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. James River Group presently has an average rating of “Hold” and an average target price of $45.00.

Shares of James River Group (NASDAQ JRVR) opened at $39.89 on Thursday. James River Group has a 1 year low of $37.24 and a 1 year high of $46.20. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.12. The company has a market cap of $1,170.25, a PE ratio of 17.50 and a beta of 0.50.

James River Group (NASDAQ:JRVR) last released its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. James River Group had a net margin of 8.98% and a return on equity of 9.36%. The business had revenue of $220.87 million for the quarter, compared to analyst estimates of $198.67 million. During the same period in the previous year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 45.9% compared to the same quarter last year. analysts anticipate that James River Group will post 2.18 earnings per share for the current fiscal year.

In other James River Group news, Director David Zwillinger sold 2,600,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $38.10, for a total value of $99,060,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bryan Martin sold 450,000 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $38.10, for a total transaction of $17,145,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,450,000 shares of company stock worth $131,445,000. 41.00% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. increased its stake in shares of James River Group by 11.0% during the 2nd quarter. Advisor Group Inc. now owns 3,937 shares of the insurance provider’s stock valued at $156,000 after acquiring an additional 391 shares during the last quarter. Legal & General Group Plc increased its stake in shares of James River Group by 21.4% during the 2nd quarter. Legal & General Group Plc now owns 4,248 shares of the insurance provider’s stock valued at $169,000 after acquiring an additional 748 shares during the last quarter. People s United Financial Inc. increased its stake in shares of James River Group by 14.5% during the 2nd quarter. People s United Financial Inc. now owns 8,113 shares of the insurance provider’s stock valued at $323,000 after acquiring an additional 1,030 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of James River Group by 21.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 6,867 shares of the insurance provider’s stock valued at $273,000 after acquiring an additional 1,207 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of James River Group by 3.6% during the 3rd quarter. Nationwide Fund Advisors now owns 34,539 shares of the insurance provider’s stock valued at $1,433,000 after acquiring an additional 1,211 shares during the last quarter. Institutional investors own 96.17% of the company’s stock.

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About James River Group

James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.

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