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James River Group Holdings NasdaqGS:JRVR Stock Report

Last Price


Market Cap







02 Oct, 2022


Company Financials +
JRVR fundamental analysis
Snowflake Score
Future Growth4/6
Past Performance0/6
Financial Health2/6

JRVR Stock Overview

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States.


Earnings are forecast to grow 59.86% per year

Analysts in good agreement that stock price will rise by 36.6%

Risk Analysis

No risks detected for JRVR from our risk checks.

James River Group Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for James River Group Holdings
Historical stock prices
Current Share PriceUS$22.81
52 Week HighUS$39.56
52 Week LowUS$19.76
1 Month Change-5.63%
3 Month Change-9.01%
1 Year Change-41.48%
3 Year Change-54.85%
5 Year Change-44.47%
Change since IPO7.34%

Recent News & Updates

Sep 08

James River goes ex dividend tomorrow

James River (NASDAQ:JRVR) declares $0.05/share quarterly dividend, in line with previous. Payable Sept. 30; for shareholders of record Sept. 12; ex-div Sept. 9. See JRVR Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

JRVRUS InsuranceUS Market

Return vs Industry: JRVR underperformed the US Insurance industry which returned -3.8% over the past year.

Return vs Market: JRVR underperformed the US Market which returned -23.2% over the past year.

Price Volatility

Is JRVR's price volatile compared to industry and market?
JRVR volatility
JRVR Average Weekly Movement4.3%
Insurance Industry Average Movement4.5%
Market Average Movement6.8%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: JRVR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: JRVR's weekly volatility (4%) has been stable over the past year.

About the Company

2002638Frank D’Orazio

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. The Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

James River Group Holdings Fundamentals Summary

How do James River Group Holdings's earnings and revenue compare to its market cap?
JRVR fundamental statistics
Market CapUS$854.24m
Earnings (TTM)-US$75.81m
Revenue (TTM)US$785.09m


P/S Ratio


P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
JRVR income statement (TTM)
Cost of RevenueUS$665.83m
Gross ProfitUS$119.26m
Other ExpensesUS$195.07m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)-2.02
Gross Margin15.19%
Net Profit Margin-9.66%
Debt/Equity Ratio44.1%

How did JRVR perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is JRVR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 1/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for JRVR?

Other financial metrics that can be useful for relative valuation.

JRVR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.2x
Enterprise Value/EBITDA-21.3x
PEG Ration/a

Price to Book Ratio vs Peers

How does JRVR's PB Ratio compare to its peers?

JRVR PB Ratio vs Peers
The above table shows the PB ratio for JRVR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average1.2x
EIG Employers Holdings
UFCS United Fire Group
ARGO Argo Group International Holdings
JRVR James River Group Holdings

Price-To-Book vs Peers: JRVR is expensive based on its Price-To-Book Ratio (1.4x) compared to the peer average (1.2x).

Price to Earnings Ratio vs Industry

How does JRVR's PE Ratio compare vs other companies in the US Insurance Industry?

Price-To-Book vs Industry: JRVR is expensive based on its Price-To-Book Ratio (1.4x) compared to the US Insurance industry average (1x)

Price to Book Ratio vs Fair Ratio

What is JRVR's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

JRVR PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio1.4x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate JRVR's Price-To-Book Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of JRVR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate JRVR's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate JRVR's fair value for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Future Growth

How is James River Group Holdings forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score


Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: JRVR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: JRVR is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: JRVR is expected to become profitable in the next 3 years.

Revenue vs Market: JRVR's revenue (8% per year) is forecast to grow faster than the US market (7.7% per year).

High Growth Revenue: JRVR's revenue (8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: JRVR's Return on Equity is forecast to be low in 3 years time (12.6%).

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Past Performance

How has James River Group Holdings performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: JRVR is currently unprofitable.

Growing Profit Margin: JRVR is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: JRVR is unprofitable, and losses have increased over the past 5 years at a rate of 64.5% per year.

Accelerating Growth: Unable to compare JRVR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: JRVR is unprofitable, making it difficult to compare its past year earnings growth to the Insurance industry (-22.8%).

Return on Equity

High ROE: JRVR has a negative Return on Equity (-9.78%), as it is currently unprofitable.

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Financial Health

How is James River Group Holdings's financial position?

Financial Health Score


Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: JRVR's short term assets ($2.9B) exceed its short term liabilities ($1.3B).

Long Term Liabilities: JRVR's short term assets ($2.9B) do not cover its long term liabilities ($3.2B).

Debt to Equity History and Analysis

Debt Level: JRVR has more cash than its total debt.

Reducing Debt: JRVR's debt to equity ratio has increased from 26.7% to 44.1% over the past 5 years.

Debt Coverage: JRVR's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if JRVR's interest payments on its debt are well covered by EBIT.

Balance Sheet

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What is James River Group Holdings's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

James River Group Holdings Dividend Yield vs Market
How does James River Group Holdings dividend yield compare to the market?
SegmentDividend Yield
Company (James River Group Holdings)0.9%
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Insurance)2.5%
Analyst forecast in 3 Years (James River Group Holdings)1.0%

Notable Dividend: JRVR's dividend (0.88%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: JRVR's dividend (0.88%) is low compared to the top 25% of dividend payers in the US market (4.73%).

Stability and Growth of Payments

Stable Dividend: JRVR is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: JRVR is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.

Earnings Payout to Shareholders

Earnings Coverage: JRVR is not paying a notable dividend for the US market.

Cash Payout to Shareholders

Cash Flow Coverage: JRVR is paying a dividend but the company has no free cash flows.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Frank D’Orazio (53 yo)





Mr. Frank N. D'Orazio has been Chief Executive Officer and Director of James River Group Holdings, Ltd. since November 2, 2020. Mr. D'Orazio was the President of Underwriting & Global Risk at Allied World...

CEO Compensation Analysis

Frank D’Orazio's Compensation vs James River Group Holdings Earnings
How has Frank D’Orazio's remuneration changed compared to James River Group Holdings's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a


Mar 31 2022n/an/a


Dec 31 2021US$1mUS$850k


Sep 30 2021n/an/a


Jun 30 2021n/an/a


Mar 31 2021n/an/a


Dec 31 2020US$4mUS$142k


Compensation vs Market: Frank's total compensation ($USD1.32M) is below average for companies of similar size in the US market ($USD4.14M).

Compensation vs Earnings: Frank's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: JRVR's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.

Board Members

Experienced Board: JRVR's board of directors are considered experienced (3.6 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

NasdaqGS:JRVR Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
11 Mar 22BuyUS$24,507Patricia RobertsIndividual1,105US$22.18
10 Mar 22BuyUS$19,910Janet CowellIndividual915US$21.76
10 Mar 22BuyUS$103,152Ollie ShermanIndividual4,800US$21.49
04 Mar 22BuyUS$84,646Kirstin GouldIndividual4,150US$21.35
04 Mar 22BuyUS$254,059Sundar SrinivasanIndividual12,500US$20.72
04 Mar 22BuyUS$39,959Thomas BrownIndividual2,000US$19.98
04 Mar 22BuyUS$252,878Richard SchmitzerIndividual12,450US$20.31
04 Mar 22BuyUS$96,779Sarah DoranIndividual4,800US$20.16
03 Mar 22BuyUS$489,463Jonathan AbramIndividual24,000US$20.39
03 Mar 22BuyUS$1,031,865Frank D’OrazioIndividual50,000US$20.64
10 Nov 21BuyUS$87,480Thomas BrownIndividual3,000US$29.16

Ownership Breakdown

What is the ownership structure of JRVR?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders1,207,5993.0%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 82.94% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
BlackRock, Inc.
5,451,490$124.3m-0.25%no data
T. Rowe Price Group, Inc.
The Vanguard Group, Inc.
2,489,190$56.8m-1.98%no data
Champlain Investment Partners, LLC
Wellington Management Group LLP
State Street Global Advisors, Inc.
1,341,221$30.6m2.91%no data
Fuller & Thaler Asset Management, Inc.
Royce & Associates, LP
Bank of America Corporation, Asset Management Arm
Bernzott Capital Advisors
Cramer Rosenthal McGlynn, LLC
Polar Capital Holdings plc
Dimensional Fund Advisors LP
Morgan Stanley, Investment Banking and Brokerage Investments
861,958$19.7m249.17%no data
Granahan Investment Management, LLC
Geode Capital Management, LLC
668,331$15.2m4.88%no data
Jennison Associates LLC
Rothschild & Co Asset Management US Inc.
Healthcare of Ontario Pension Plan Trust Fund
State of Wisconsin Investment Board
Nuveen Investments, Inc.
Jonathan Abram
482,943$11.0m0%no data
Schroder Investment Management North America Inc.
Charles Schwab Investment Management, Inc.
458,492$10.5m4.97%no data
Peregrine Capital Management, LLC

Company Information

James River Group Holdings, Ltd.'s employee growth, exchange listings and data sources

Key Information

  • Name: James River Group Holdings, Ltd.
  • Ticker: JRVR
  • Exchange: NasdaqGS
  • Founded: 2002
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Implied Market Cap: US$854.244m
  • Shares outstanding: 37.45m
  • Website:

Number of Employees


  • James River Group Holdings, Ltd.
  • Wellesley House
  • 2nd Floor
  • Pembroke
  • HM 08
  • Bermuda


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
JRVRNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDDec 2014
0JRDB (Deutsche Boerse AG)YesCommon SharesDEEURDec 2014

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/02 00:00
End of Day Share Price2022/09/30 00:00
Annual Earnings2021/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.