James River Group Holdings Ltd (JRVR)
NASDAQ:JRVR
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James River Group
(NASDAQ:JRVR)
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Rating:51Neutral
Price Target:
$4.00
▼(-38.37% Downside)
Action:Reiterated
Date:05/13/26
The score is held back primarily by weak technicals (strong downtrend and negative momentum) and an uneven financial profile marked by volatility, margin compression, declining equity, and inconsistent cash flow. The latest earnings call provides some offset via improving underlying underwriting/expense trends and rate momentum, but reported results were still pressured by a significant reinstatement charge; valuation is also constrained by a negative P/E and modest dividend yield.
Positive Factors
Conservative investment mix
A high-grade, short-to-intermediate duration portfolio supports stable investment income from the insurer's float. This reduces mark-to-market volatility and interest-rate sensitivity, providing a durable cushion to underwriting swings and helping steady net income over a multi-quarter horizon.
Negative Factors
Reduced tangible equity
A meaningful decline in tangible equity lowers loss-absorption capacity and increases sensitivity to adverse reserve development or large catastrophe losses. With less capital buffer, management has less flexibility to underwrite through cycles, which can constrain growth or force more conservative underwriting.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative investment mix
A high-grade, short-to-intermediate duration portfolio supports stable investment income from the insurer's float. This reduces mark-to-market volatility and interest-rate sensitivity, providing a durable cushion to underwriting swings and helping steady net income over a multi-quarter horizon.
Read all positive factors
James River Group Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down total revenue by business segment — including earned premiums, fee income, and investment-related income — to show what actually drives the company’s top line. Comparing segments helps investors understand whether earnings are coming from core underwriting, investment returns, or ancillary fees, and where concentration or scalability risks exist.
Breaks down total revenue by business segment — including earned premiums, fee income, and investment-related income — to show what actually drives the company’s top line. Comparing segments helps investors understand whether earnings are coming from core underwriting, investment returns, or ancillary fees, and where concentration or scalability risks exist.
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The Fly
The FlyJames River Group (JRVR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$182.17M
Dividend Yield0.63%
Average Volume (3M)262.99K
Price to Earnings (P/E)6.2
Beta (1Y)0.84
Revenue Growth-1.78%
EPS GrowthN/A
CountryUS
Employees645
SectorFinancial
Sector Strength70
IndustryInsurance - Specialty
Share Statistics
EPS (TTM)0.46
Shares Outstanding46,236,855
10 Day Avg. Volume246,814
30 Day Avg. Volume262,986
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)0.44
Price to Sales (P/S)0.43
P/FCF Ratio-12.39
Enterprise Value/Market Cap1.56
Enterprise Value/Revenue0.43
Enterprise Value/Gross Profit1.55
Enterprise Value/Ebitda6.66
Forecast
1Y Price Target
$5.38Price Target Upside-17.18% Downside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)0.88
Revenue Forecast (FY)$615.17M
James River Group Business Overview & Revenue Model
Company Description
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. ...
How the Company Makes Money
James River Group primarily makes money through (1) underwriting income and (2) investment income. Underwriting income is generated when the premiums it collects on insurance and reinsurance contracts exceed the total of claims paid (losses), chan...
James River Group Earnings Call Summary
Earnings Call Date:May 04, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: near-term financial results were negatively impacted by a sizable one-off reinsurance reinstatement premium that produced a net loss and a combined ratio above 100%, but underlying operating performance showed several constructive elements — targeted premium growth (specialty +6%, excess casualty +15%), positive rate momentum (casualty +7.7%), double-digit G&A reductions (−11%), rising investment income (+6.6%) and investments in AI-enabled underwriting tools. Management emphasized structural improvements in underwriting discipline and portfolio positioning. Given the material but largely one-time nature of the reinstatement charge and the number of operational and financial improvements highlighted, the results are neither uniformly positive nor uniformly negative.Positive Updates
Submission and Premium Growth
Submission growth was strong at 4% for the quarter; gross written premiums modestly grew across E&S Casualty and Specialty with 7 of 14 underwriting divisions reporting positive growth; casualty portfolio (excl. manufacturers/contractors and small delegated runoff) was up over 6% year-over-year.
Negative Updates
Quarterly Net Loss and EPS Impact
Reported net loss to common shareholders of $10.9 million versus net income of $7.6 million in Q1 2025; operating earnings were $5.8 million ($0.12 diluted) compared to $9.1 million ($0.19) prior-year quarter; absent reinstatement impact operating EPS would have been $0.22.
Read all updates
Q1-2026 Updates
Positive
Negative
Submission and Premium Growth
Submission growth was strong at 4% for the quarter; gross written premiums modestly grew across E&S Casualty and Specialty with 7 of 14 underwriting divisions reporting positive growth; casualty portfolio (excl. manufacturers/contractors and small delegated runoff) was up over 6% year-over-year.
Read all positive updates
Company Guidance
The company guided that 2026 priorities remain pushing rate in Excess Casualty and driving growth in Specialty Lines and the small business SME platform — areas it sees as the best margin opportunities — while maintaining underwriting discipline, expense vigilance and technology investment; quarterly metrics cited to support the outlook included casualty rate increases of 7.7%, submission growth of 4%, modest gross written premium growth across E&S Casualty and Specialty (7 of 14 underwriting divisions positive), casualty production up over 6% ex‑certain portfolios, specialty lines growth of 6% and excess casualty growth of 15%. Management reiterated expense focus (G&A down 11% year‑over‑year, Specialty Admitted G&A down 46%, Corporate G&A down 15%), noted the roll‑out of an AI‑enabled underwriting workbench to two departments this quarter, and quantified recent headwinds and balance‑sheet items: a $6.7M reinstatement charge (with reinstatement exposure of ~ $9M across 2022 and prior) that added ~5 points to the group combined ratio (reported 104.6%; adjusted 99.7% with an adjusted loss ratio of 66% and expense ratio of 33.7%), E&S combined ratio 96.5% (68% loss, 28.5% expense; adjusted 91.8%), ceded $16.2M to the E&S top‑up ADC with $7.5M remaining, net investment income of $21.3M (up 6.6% YoY), a portfolio ~73% high‑grade fixed income at 3.5 years duration and A+ rating (bank loans ~8% of assets), and tangible common equity per share of $8.77 (operating EPS was $0.12 GAAP/$0.22 adjusted absent the reinstatement).James River Group Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
63
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 666.71M | 687.61M | 707.63M | 812.01M | 661.51M | 609.03M |
| Gross Profit | 182.97M | 194.97M | 87.29M | 239.22M | 171.06M | -5.03M |
| EBITDA | 42.69M | 73.36M | -47.16M | 111.07M | 68.19M | -94.49M |
| Net Income | 28.93M | 47.43M | -81.12M | -107.68M | 30.97M | -172.80M |
Balance Sheet | ||||||
| Total Assets | 4.76B | 4.86B | 5.01B | 5.32B | 5.14B | 4.95B |
| Cash, Cash Equivalents and Short-Term Investments | 867.57M | 888.10M | 979.45M | 1.67B | 1.43B | 2.00B |
| Total Debt | 329.86M | 329.86M | 304.86M | 326.36M | 326.36M | 366.36M |
| Total Liabilities | 4.11B | 4.19B | 4.41B | 4.64B | 4.44B | 4.22B |
| Stockholders Equity | 651.53M | 671.27M | 594.03M | 679.52M | 698.66M | 725.36M |
Cash Flow | ||||||
| Free Cash Flow | 28.33M | -23.59M | -251.97M | 81.52M | 214.51M | -919.85M |
| Operating Cash Flow | 32.00M | -18.79M | -247.09M | 87.95M | 222.73M | -913.55M |
| Investing Cash Flow | -92.43M | -116.04M | 307.03M | 16.73M | -328.15M | 35.82M |
| Financing Cash Flow | -11.85M | 13.20M | -28.85M | -21.11M | 89.67M | 147.67M |
James River Group Technical Analysis
Negative
6.49
Price Trends
5.50
Negative
6.07
Negative
5.87
Negative
Market Momentum
-0.49
Negative
24.95
Positive
5.40
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JRVR, the sentiment is Negative. The current price of 6.49 is above the 20-day moving average (MA) of 4.35, above the 50-day MA of 5.50, and above the 200-day MA of 5.87, indicating a bearish trend. The MACD of -0.49 indicates Negative momentum. The RSI at 24.95 is Positive, neither overbought nor oversold. The STOCH value of 5.40 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JRVR.
James River Group Risk Analysis
James River Group disclosed 54 risk factors in its most recent earnings report. James River Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
James River Group Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $450.23M | 11.64 | 14.03% | 4.20% | 7.19% | 27.90% | |
68 Neutral | $571.59M | 12.41 | 17.85% | 6.64% | 7.83% | -1.76% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | $656.35M | 22.73 | 6.01% | 1.31% | -47.59% | -58.70% | |
51 Neutral | $182.17M | 6.23 | 4.48% | 0.63% | -1.78% | ― | |
45 Neutral | $300.51M | -1.89 | 6.98% | ― | 109.30% | 64.74% |
* Financial Sector Average
JRVR
James River Group
3.91
-1.87
-32.36%
AMSF
Amerisafe
30.65
-13.79
-31.03%
ITIC
Investors Title Company
234.75
9.85
4.38%
MBI
MBIA
5.87
1.46
33.11%
TIPT
Tiptree Financial
18.24
-3.65
-16.67%
James River Group Corporate Events
Business Operations and StrategyFinancial Disclosures
James River Highlights Profit-Focused Q1 2026 E&S Performance
Positive
May 12, 2026
In May 2026, James River Group furnished its first quarter 2026 investor presentation, highlighting a leading specialty insurer franchise with $1.1 billion in gross written premium over the last twelve months, $518 million in total shareholders...
Business Operations and StrategyDividendsFinancial Disclosures
James River Group Declares Dividend Amid Quarterly Loss
Negative
May 4, 2026
James River Group Holdings reported that on May 4, 2026, its board declared a cash dividend of $0.01 per common share, payable on June 30, 2026, to shareholders of record as of June 8, 2026. The move comes alongside weaker first-quarter 2026 resul...
Executive/Board Changes
James River Group Announces Director Langwell’s Planned Departure
Neutral
Apr 14, 2026
On April 8, 2026, James River Group Holdings, Inc. announced that director Dennis J. Langwell informed the company he will not seek re-election at its 2026 annual general meeting of shareholders. The company emphasized that Langwell’s decisi...
Business Operations and StrategyFinancial Disclosures
James River Group Highlights Strong Q4 2025 Specialty Performance
Positive
Mar 27, 2026
In March 2026, James River Group Holdings, Inc. released its fourth quarter 2025 investor presentation, highlighting its positioning as a leading specialty insurer in the U.S. small and medium enterprise ES market with a wholesale-only distributio...
Executive/Board Changes
James River Group Boosts CEO Incentive Compensation Structure
Positive
Mar 6, 2026
On March 2, 2026, James River Group Holdings, Inc. amended the target short-term incentive plan award for Chief Executive Officer Frank D’Orazio, increasing his target bonus opportunity from 100% to 150% of his base salary. On the same date,...
Business Operations and StrategyDividendsFinancial Disclosures
James River Group Announces Dividend Amid Strong Turnaround
Positive
Mar 2, 2026
James River Group announced on March 2, 2026, that its board declared a cash dividend of $0.01 per common share, payable March 31, 2026 to shareholders of record as of March 13, 2026. The company also reported a sharp turnaround in fourth-quarter ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.