James River Group (NASDAQ:JRVR) Shares Cross Below Fifty Day Moving Average - Here's Why

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $6.51 and traded as low as $6.49. James River Group shares last traded at $6.62, with a volume of 177,047 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on JRVR shares. Truist Financial reduced their price objective on James River Group from $9.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, August 7th. Compass Point cut their price objective on James River Group from $12.50 to $12.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Finally, JMP Securities lowered their target price on James River Group from $14.00 to $11.00 and set a "market outperform" rating for the company in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, James River Group presently has an average rating of "Moderate Buy" and a consensus price target of $11.00.

James River Group Trading Down 18.0 %

The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.37. The firm has a market cap of $205.42 million, a price-to-earnings ratio of -2.65 and a beta of 0.17. The business has a 50 day moving average price of $6.51 and a 200-day moving average price of $7.35.

James River Group (NASDAQ:JRVR - Get Free Report) last issued its quarterly earnings results on Monday, November 11th. The insurance provider reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($1.40). James River Group had a negative net margin of 12.79% and a positive return on equity of 11.66%. The business had revenue of $191.50 million during the quarter, compared to analysts' expectations of $137.28 million. During the same period in the prior year, the company posted $0.48 EPS. The company's revenue for the quarter was down 8.9% on a year-over-year basis. As a group, research analysts expect that James River Group Holdings, Ltd. will post 1.85 EPS for the current fiscal year.

James River Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.68%. The ex-dividend date was Monday, September 16th. James River Group's dividend payout ratio is currently -8.00%.

Institutional Trading of James River Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in James River Group during the third quarter valued at approximately $69,000. Sei Investments Co. acquired a new stake in shares of James River Group in the 2nd quarter valued at about $83,000. Levin Capital Strategies L.P. acquired a new stake in shares of James River Group in the first quarter valued at about $93,000. Simplicity Wealth LLC bought a new position in James River Group during the second quarter worth about $93,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in James River Group during the third quarter worth about $157,000. Institutional investors and hedge funds own 95.21% of the company's stock.

About James River Group

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.