JMP Securities Lowers James River Group (NASDAQ:JRVR) Price Target to $8.00

James River Group (NASDAQ:JRVR) had its price objective reduced by JMP Securities from $11.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a market outperform rating on the insurance provider’s stock.

James River Group Stock Performance

Shares of NASDAQ JRVR opened at $4.61 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day moving average price of $5.43 and a 200 day moving average price of $6.64. The stock has a market capitalization of $174.39 million, a PE ratio of -1.14 and a beta of 0.09. James River Group has a 52 week low of $4.35 and a 52 week high of $11.49.

James River Group (NASDAQ:JRVR) last released its quarterly earnings data on Monday, November 11th. The insurance provider reported ($0.74) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.89). The company had revenue of $191.50 million during the quarter, compared to analyst estimates of $137.28 million. James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. Analysts predict that James River Group will post -0.35 earnings per share for the current fiscal year.

James River Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.04 annualized dividend and a dividend yield of 0.87%. James River Group’s dividend payout ratio is presently -0.99%.

Institutional Investors Weigh In On James River Group

Several hedge funds have recently bought and sold shares of JRVR. AQR Capital Management LLC increased its position in James River Group by 2,512.5% during the second quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock worth $10,644,000 after buying an additional 1,324,309 shares during the last quarter. RBF Capital LLC boosted its stake in shares of James River Group by 4.2% during the 3rd quarter. RBF Capital LLC now owns 1,073,828 shares of the insurance provider’s stock worth $6,733,000 after acquiring an additional 42,946 shares during the period. Marshall Wace LLP increased its holdings in shares of James River Group by 39.2% during the 2nd quarter. Marshall Wace LLP now owns 469,963 shares of the insurance provider’s stock worth $3,633,000 after acquiring an additional 132,300 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in James River Group by 7.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 275,519 shares of the insurance provider’s stock valued at $2,130,000 after acquiring an additional 20,085 shares during the period. Finally, American Century Companies Inc. lifted its holdings in James River Group by 232.2% during the 2nd quarter. American Century Companies Inc. now owns 171,529 shares of the insurance provider’s stock valued at $1,326,000 after purchasing an additional 119,901 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.