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

James River Group (NASDAQ:JRVR - Free Report) had its price objective lowered by JMP Securities from $11.00 to $8.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a market outperform rating on the insurance provider's stock.

James River Group Price Performance

Shares of James River Group stock traded up $0.06 on Friday, hitting $4.61. 1,270,965 shares of the company were exchanged, compared to its average volume of 649,049. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $5.47 and a 200 day moving average price of $6.67. The stock has a market capitalization of $174.39 million, a price-to-earnings ratio of -1.14 and a beta of 0.09. James River Group has a 1-year low of $4.35 and a 1-year high of $11.49.

James River Group (NASDAQ:JRVR - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The insurance provider reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.89). James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. The company had revenue of $191.50 million for the quarter, compared to analyst estimates of $137.28 million. During the same period last year, the firm posted $0.48 EPS. The business's quarterly revenue was down 8.9% on a year-over-year basis. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, December 16th. James River Group's dividend payout ratio (DPR) is presently -0.99%.

Institutional Trading of James River Group

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in James River Group by 2,512.5% in the second quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider's stock valued at $10,644,000 after acquiring an additional 1,324,309 shares during the last quarter. RBF Capital LLC raised its position in James River Group by 4.2% in the third quarter. RBF Capital LLC now owns 1,073,828 shares of the insurance provider's stock valued at $6,733,000 after purchasing an additional 42,946 shares during the period. Marshall Wace LLP lifted its stake in shares of James River Group by 39.2% in the 2nd quarter. Marshall Wace LLP now owns 469,963 shares of the insurance provider's stock valued at $3,633,000 after purchasing an additional 132,300 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of James River Group by 7.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 275,519 shares of the insurance provider's stock worth $2,130,000 after purchasing an additional 20,085 shares during the period. Finally, American Century Companies Inc. increased its position in shares of 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 worth $1,326,000 after purchasing an additional 119,901 shares during the last quarter. Hedge funds and other institutional investors 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.