James River Group Holdings Ltd (JRVR) was Reiterated by FBR & Co. to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 40 from a previous price target of $36 . FBR & Co. advised their investors in a research report released on Oct 4, 2016.
On the company’s financial health, James River Group Holdings Ltd reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.43. The company had revenue of $134.51 million for the quarter, compared to analysts expectations of $128.43 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.
James River Group Holdings Ltd opened for trading at $34.93 and hit $36.52 on the upside on Friday, eventually ending the session at $36.2, with a gain of 3.55% or 1.24 points. The heightened volatility saw the trading volume jump to 1,19,481 shares. Company has a market cap of $1,053 M.
In a different news, on Sep 15, 2016, Steven J Hartman (Pres. & CEO-Sp. Adm. Ins Sgmt) sold 10,000 shares at $35.22 per share price. According to the SEC, on Jun 4, 2015, J Adam Abram (CEO) purchased 8,700 shares at $22.75 per share price.
James River Group Holdings Ltd. is a Bermuda-based insurance holding company. The Company owns and operates a group of specialty insurance and reinsurance companies. For the year ended December 31 2014 71% of the Company’s gross written premiums originated from the United States excess and surplus lines market. The Company operates through three specialty property-casualty insurance and reinsurance segments: Excess and Surplus (E&S) Lines which include commercial lines liability and property insurance products; Specialty Admitted Insurance which consists of standard insurance products primarily for workers’ compensation coverage for residential contractors light manufacturing operations transportation workers and healthcare workers in North Carolina Virginia and South Carolina and Casualty Reinsurance which include the operations of JRG Reinsurance Company Ltd. a Bermuda domiciled reinsurance subsidiary.