FBR Capital Reiterates a Buy Rating on James River Group

By Austin Angelo

In a report released yesterday, Randy Binner from FBR Capital reiterated a Buy rating on James River Group (NASDAQ: JRVR). The company’s shares opened today at $36.83.

According to TipRanks.com, Binner is a 5-star analyst with an average return of 9.1% and a 69.2% success rate. Binner covers the Financial sector, focusing on stocks such as American Equity Investment Life, National General Holdings, and Lincoln National Corp.

James River Group has an analyst consensus of Moderate Buy, with a price target consensus of $38.

Based on James River Group’s latest earnings report from June 30, the company posted quarterly revenue of $134.5M and quarterly net profit of $14.6M. In comparison, last year the company earned revenue of $133.1M and had a net profit of $18.96M.

James River Group Holdings Ltd. engages in insurance business activities. It owns and operates a group of specialty insurance and reinsurance companies. The company operates its business in four segments: Excess & Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance and Corporate & Other. The Excess & Surplus Lines segment offers E&S commercial lines liability and property insurance in every U.S. state and the District of Columbia through James River Insurance and its wholly-owned subsidiary, James River Casualty. James River Insurance and James River Casualty are both non-admitted carriers. The Specialty Admitted Insurance segment focuses on niche classes within the standard insurance markets, such as workers compensation coverage for residential contractors, light manufacturing operations, transportation workers and healthcare workers in North Carolina, Virginia, South Carolina and Tennessee. The Casualty Reinsurance segment consists of JRG Re, its Bermuda domiciled reinsurance subsidiary, which provides proportional and working layer casualty reinsurance to third parties and to its U.S. based insurance subsidiaries. The Corporate & Other segment consists of the management and treasury activities of its holding companies and interest expense associated with its debt. The company was founded on May 30, 2007 and is headquartered in Hamilton, Bermuda.