James River Group (NASDAQ:JRVR) Cut to Hold at SunTrust Banks

SunTrust Banks downgraded shares of James River Group (NASDAQ:JRVR) from a buy rating to a hold rating in a report issued on Wednesday, BenzingaRatingsTable reports. They currently have $40.00 price target on the insurance provider’s stock, down from their previous price target of $55.00. SunTrust Banks also issued estimates for James River Group’s Q4 2019 earnings at $0.70 EPS.

JRVR has been the subject of several other research reports. ValuEngine cut James River Group from a buy rating to a hold rating in a report on Thursday, August 1st. BidaskClub cut James River Group from a buy rating to a hold rating in a report on Friday, October 4th. Zacks Investment Research cut James River Group from a strong-buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, B. Riley set a $45.00 price target on James River Group and gave the company a hold rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. James River Group has a consensus rating of Hold and a consensus target price of $42.00.

JRVR traded down $0.35 during midday trading on Wednesday, hitting $37.92. The company’s stock had a trading volume of 309,233 shares, compared to its average volume of 282,065. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.15 billion, a P/E ratio of 14.74 and a beta of 0.50. The firm has a 50-day moving average price of $49.10 and a two-hundred day moving average price of $45.93. James River Group has a 52-week low of $34.08 and a 52-week high of $52.18.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $220.37 million during the quarter, compared to analysts’ expectations of $218.10 million. James River Group had a return on equity of 10.62% and a net margin of 8.50%. On average, equities analysts expect that James River Group will post 1.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Friday, September 13th. James River Group’s dividend payout ratio is currently 51.50%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 6 Meridian lifted its stake in shares of James River Group by 1.7% in the 2nd quarter. 6 Meridian now owns 17,884 shares of the insurance provider’s stock valued at $839,000 after purchasing an additional 307 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of James River Group by 3.8% in the 2nd quarter. First Trust Advisors LP now owns 9,822 shares of the insurance provider’s stock valued at $461,000 after purchasing an additional 360 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of James River Group by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 46,789 shares of the insurance provider’s stock valued at $2,194,000 after purchasing an additional 405 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of James River Group by 177.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 651 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 416 shares in the last quarter. Finally, Natixis Advisors L.P. lifted its stake in shares of James River Group by 3.8% in the 2nd quarter. Natixis Advisors L.P. now owns 13,663 shares of the insurance provider’s stock valued at $641,000 after purchasing an additional 498 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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