Wall Street analysts predict that James River Group Holdings Ltd (NASDAQ:JRVR) will post $214.55 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for James River Group’s earnings, with estimates ranging from $214.30 million to $214.80 million. James River Group reported sales of $176.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.6%. The business is scheduled to report its next earnings results on Wednesday, May 2nd.
On average, analysts expect that James River Group will report full year sales of $214.55 million for the current financial year, with estimates ranging from $868.20 million to $903.60 million. For the next fiscal year, analysts expect that the business will post sales of $938.00 million per share, with estimates ranging from $879.00 million to $997.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover James River Group.
James River Group (NASDAQ:JRVR) last announced its earnings results on Thursday, February 22nd. The insurance provider reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.58). The business had revenue of $217.96 million for the quarter, compared to analysts’ expectations of $208.56 million. James River Group had a net margin of 5.33% and a return on equity of 6.67%. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share.
A number of brokerages have recently issued reports on JRVR. BidaskClub cut shares of James River Group from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. B. Riley cut shares of James River Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $47.00 to $39.00 in a research note on Thursday, January 4th. Zacks Investment Research raised shares of James River Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, SunTrust Banks reduced their price objective on shares of James River Group to $44.00 and set a “buy” rating for the company in a research note on Monday, February 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $43.00.
In other news, Director Janet Raye Cowell acquired 1,206 shares of James River Group stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of $33.16 per share, with a total value of $39,990.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 41.00% of the company’s stock.
Large investors have recently modified their holdings of the stock. First Trust Advisors LP boosted its position in shares of James River Group by 45.0% during the third quarter. First Trust Advisors LP now owns 28,222 shares of the insurance provider’s stock worth $1,171,000 after acquiring an additional 8,765 shares during the last quarter. State Street Corp boosted its position in shares of James River Group by 24.0% during the second quarter. State Street Corp now owns 362,607 shares of the insurance provider’s stock worth $14,409,000 after acquiring an additional 70,115 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of James River Group by 1,323.6% during the third quarter. Russell Investments Group Ltd. now owns 32,857 shares of the insurance provider’s stock worth $1,363,000 after acquiring an additional 30,549 shares during the last quarter. Granahan Investment Management Inc. MA boosted its position in shares of James River Group by 24.4% during the third quarter. Granahan Investment Management Inc. MA now owns 168,328 shares of the insurance provider’s stock worth $6,982,000 after acquiring an additional 32,985 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of James River Group by 16.6% during the fourth quarter. American International Group Inc. now owns 17,200 shares of the insurance provider’s stock worth $688,000 after acquiring an additional 2,443 shares during the last quarter. Hedge funds and other institutional investors own 96.36% of the company’s stock.
Shares of James River Group (JRVR) traded down $0.46 during midday trading on Friday, hitting $34.34. 168,473 shares of the stock were exchanged, compared to its average volume of 425,451. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1,046.53, a PE ratio of 24.34 and a beta of 0.55. James River Group has a 1 year low of $32.17 and a 1 year high of $44.34.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 12th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.49%. James River Group’s dividend payout ratio (DPR) is presently 83.33%.
James River Group Company Profile
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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