James River Group (NASDAQ:JRVR) Shares Cross Above 50-Day Moving Average – Here’s Why

James River Group Holdings, Ltd. (NASDAQ:JRVR) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.79 and traded as high as $4.81. James River Group shares last traded at $4.78, with a volume of 142,863 shares.

Wall Street Analysts Forecast Growth

Separately, JMP Securities cut their price objective on shares of James River Group from $11.00 to $8.00 and set a “market outperform” rating for the company in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.40.

James River Group Stock Performance

The company’s fifty day simple moving average is $4.79 and its 200 day simple moving average is $5.65. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $180.82 million, a P/E ratio of -1.18 and a beta of 0.07.

James River Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, December 16th. James River Group’s payout ratio is -0.99%.

Institutional Trading of James River Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its position in James River Group by 4.1% in the 4th quarter. Rhumbline Advisers now owns 55,967 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 2,179 shares during the period. Quantbot Technologies LP boosted its stake in shares of James River Group by 24.8% during the 4th quarter. Quantbot Technologies LP now owns 12,556 shares of the insurance provider’s stock valued at $61,000 after purchasing an additional 2,498 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of James River Group by 1.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 195,791 shares of the insurance provider’s stock valued at $1,228,000 after purchasing an additional 3,433 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in James River Group by 22.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,028 shares of the insurance provider’s stock worth $102,000 after acquiring an additional 3,839 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in James River Group by 41.6% during the fourth quarter. SG Americas Securities LLC now owns 15,616 shares of the insurance provider’s stock worth $76,000 after acquiring an additional 4,586 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

James River Group Company Profile

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.