| Over a month ago | ||||
Reports Q1 revenue… Reports Q1 revenue $235.6M, consensus $218.2M. Frank D'Orazio, the company's CEO, commented on the first quarter, "Buoyed by strong growth and attractive renewal rates in our E&S segment, solid underwriting profitability and meaningful contributions from our investment portfolio, James River produced another outstanding quarter of attractive returns, including our strongest quarterly adjusted net operating income in more than three years. With the Company repositioned around its core strengths, we believe James River is well poised to continue to deliver excellent underwriting performance and compelling shareholder returns." | ||||
JMP Securities analyst… JMP Securities analyst Matthew Carletti lowered the firm's price target on James River Group to $32 from $36 and keeps an Outperform rating on the shares. Q1 results in InsurTech will likely present an ongoing complex picture of the state of the industry as mark-to-market investment gains will positively impact book value for many, while above-average levels of severe weather may negatively impact EPS for some, the analyst tells investors in a research note. | ||||
Barclays analyst Tracy… Barclays analyst Tracy Benguigui lowered the firm's price target on James River Group to $21 from $24 and keeps an Equal Weight rating on the shares. The analyst thinks specialty insurers will outperform standard insurers in Q1 given opportunities afforded from market dislocation. The firm is cautious on "any contrarian" who releases casualty prior year claims development prematurely and sees mixed signals behind the auto path to profitability. | ||||
Virtual Meeting to be… Virtual Meeting to be held on March 23 hosted by JMP Securities. | ||||
Virtual Meeting to be… Virtual Meeting to be held on March 23 hosted by JMP Securities. | ||||
| Over a quarter ago | ||||
Barclays analyst Tracy… Barclays analyst Tracy Benguigui raised the firm's price target on James River Group to $24 from $22 and keeps an Equal Weight rating on the shares post the Q4 results. The company's decision to stop underwriting new business within Casualty Re doesn't tackle reserve risk and it consequentially leads to a higher expense base, the analyst tells investors in a research note. | ||||
Reports Q4 revenue… Reports Q4 revenue $225.7M, consensus $212.47M. Frank D'Orazio, the Company's Chief Executive Officer, commented, "The fourth quarter of 2022 capped a year of significant progress and profitable momentum for James River, while positioning the Company extremely well for the future. We continue to take advantage of compelling underwriting conditions in our insurance businesses, generating attractive growth, and validating the strength of our underwriting franchise. Moreover, we have decided to suspend underwriting activities in our Casualty Reinsurance segment, which we believe repositions the Company around its core strengths." | ||||
Compass Point analyst… Compass Point analyst Casey Alexander downgraded James River Group (JRVR) to Neutral from Buy with a price target of $28.50, down from $30. James River has "been through two rounds of major adverse development" since Q1 of 2021, including the full reinsurance of the Uber (UBER) run-off book and an LPT contract to remove Casualty reinsurance from the equation, noted Alexander. While he does not doubt that James River has an attractive E&S platform, the "mix of businesses is making it harder for growth to evidence itself," said Alexander. His fears that James River could become a value trap have heightened, his long-term outlook for earnings-driven growth of TBV has lessened, and over the next twelve months the likelihood that TBV will start to recoup OCI losses "seems limited," Alexander tells investors. | ||||
Compass Point analyst… Compass Point analyst Casey Alexander downgraded James River Group to Neutral from Buy with a price target of $28.50, down from $30. | ||||
Reports Q3 revenue… Reports Q3 revenue $201.2M, consensus $205.93M. | ||||
