James River Group Holdings, Ltd. (JRVR) Rating Increased to Hold at Zacks Investment Research

James River Group Holdings, Ltd. (NASDAQ:JRVR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “James River Group Holdings, Ltd. is an insurance company which own and operate specialty insurance and reinsurance companies. The Company operates through Excess and Surplus Lines, Specialty Admitted Insurance and Casualty Reinsurance segments. James River Group Holdings, Ltd. is based in Hamilton, Bermuda. “

Several other equities analysts also recently weighed in on JRVR. BidaskClub raised James River Group Holdings from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $42.00 target price on shares of James River Group Holdings in a research report on Friday, August 18th. Finally, ValuEngine downgraded James River Group Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $47.00.

James River Group Holdings (NASDAQ:JRVR) last released its earnings results on Tuesday, August 1st. The insurance provider reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.04). The company had revenue of $202.40 million for the quarter, compared to the consensus estimate of $169.83 million. James River Group Holdings had a net margin of 11.45% and a return on equity of 10.80%. The business’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS.

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In other James River Group Holdings news, CEO Steven J. Hartman sold 19,736 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $39.42, for a total value of $777,993.12. Following the completion of the sale, the chief executive officer now directly owns 70,315 shares in the company, valued at approximately $2,771,817.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven J. Hartman sold 5,264 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $38.91, for a total value of $204,822.24. Following the completion of the sale, the chief executive officer now owns 55,843 shares of the company’s stock, valued at $2,172,851.13. The disclosure for this sale can be found here. 41.00% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of James River Group Holdings by 0.8% in the 2nd quarter. FMR LLC now owns 2,649,141 shares of the insurance provider’s stock worth $105,250,000 after buying an additional 21,164 shares during the period. Vanguard Group Inc. lifted its holdings in shares of James River Group Holdings by 27.1% in the 2nd quarter. Vanguard Group Inc. now owns 894,726 shares of the insurance provider’s stock worth $35,548,000 after buying an additional 190,928 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of James River Group Holdings by 4,472.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 853,306 shares of the insurance provider’s stock worth $33,902,000 after buying an additional 834,645 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of James River Group Holdings by 7.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 565,304 shares of the insurance provider’s stock worth $22,459,000 after buying an additional 38,652 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of James River Group Holdings by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 508,173 shares of the insurance provider’s stock worth $20,190,000 after buying an additional 20,962 shares during the period. Institutional investors and hedge funds own 92.72% of the company’s stock.

James River Group Holdings 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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