James River Group Holdings Ltd (NASDAQ:JRVR) Expected to Announce Earnings of $0.50 Per Share

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Brokerages expect James River Group Holdings Ltd (NASDAQ:JRVR) to announce $0.50 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for James River Group’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.51. James River Group reported earnings per share of ($0.73) in the same quarter last year, which would suggest a positive year-over-year growth rate of 168.5%. The company is expected to issue its next earnings report on Wednesday, November 4th.

On average, analysts expect that James River Group will report full-year earnings of $2.08 per share for the current year, with EPS estimates ranging from $2.05 to $2.10. For the next fiscal year, analysts anticipate that the business will report earnings of $2.38 per share, with EPS estimates ranging from $2.25 to $2.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow James River Group.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.08. James River Group had a negative net margin of 0.38% and a positive return on equity of 4.42%. The firm had revenue of $186.75 million for the quarter, compared to the consensus estimate of $188.85 million.

JRVR has been the subject of several recent research reports. B. Riley boosted their price target on James River Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Zacks Investment Research raised James River Group from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Saturday, August 15th. TheStreet raised James River Group from a “c” rating to a “b” rating in a research report on Wednesday, July 29th. SunTrust Banks upped their target price on James River Group from $42.00 to $53.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Finally, BidaskClub raised James River Group from a “hold” rating to a “buy” rating in a research report on Friday, August 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. James River Group presently has an average rating of “Buy” and an average target price of $50.50.

In other news, COO Robert Patrick Myron sold 65,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $44.70, for a total value of $2,905,500.00. Following the sale, the chief operating officer now owns 253,405 shares in the company, valued at $11,327,203.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet Raye Cowell sold 1,115 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $39.38, for a total value of $43,908.70. Following the completion of the sale, the director now owns 5,792 shares in the company, valued at approximately $228,088.96. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of James River Group by 1.4% in the second quarter. Vanguard Group Inc. now owns 1,950,490 shares of the insurance provider’s stock worth $87,772,000 after buying an additional 27,149 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of James River Group by 17.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,205,362 shares of the insurance provider’s stock worth $54,241,000 after buying an additional 182,822 shares during the last quarter. State Street Corp boosted its stake in shares of James River Group by 11.1% in the first quarter. State Street Corp now owns 940,853 shares of the insurance provider’s stock worth $34,097,000 after buying an additional 94,055 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of James River Group by 52.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 502,690 shares of the insurance provider’s stock worth $18,217,000 after buying an additional 172,179 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of James River Group by 938.8% in the first quarter. Victory Capital Management Inc. now owns 449,967 shares of the insurance provider’s stock worth $16,307,000 after buying an additional 406,651 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

James River Group stock traded down $0.75 during midday trading on Friday, reaching $47.73. The stock had a trading volume of 159,809 shares, compared to its average volume of 142,520. James River Group has a 12 month low of $25.34 and a 12 month high of $52.18. The firm has a market capitalization of $1.46 billion, a PE ratio of -227.27 and a beta of 0.53. The firm’s 50-day moving average price is $47.49 and its 200 day moving average price is $40.68. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.27.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Friday, September 11th. James River Group’s dividend payout ratio is presently 85.71%.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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Earnings History and Estimates for James River Group (NASDAQ:JRVR)

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