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James River Group Holdings

Nasdaq:JRVR
Snowflake Description

Adequate balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JRVR
Nasdaq
$1B
Market Cap
  1. Home
  2. US
  3. Insurance
Company description

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. The last earnings update was 46 days ago. More info.


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JRVR Share Price and Events
7 Day Returns
0.7%
NasdaqGS:JRVR
0.5%
US Insurance
0.3%
US Market
1 Year Returns
14.2%
NasdaqGS:JRVR
12.1%
US Insurance
0.7%
US Market
JRVR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
James River Group Holdings (JRVR) 0.7% 2.7% 17.2% 14.2% 32.5% -
US Insurance 0.5% 3.5% 9.2% 12.1% 39.9% 45.3%
US Market 0.3% 0.4% 0.6% 0.7% 37.2% 37.4%
1 Year Return vs Industry and Market
  • JRVR outperformed the Insurance industry which returned 12.1% over the past year.
  • JRVR outperformed the Market in United States of America which returned 0.7% over the past year.
Price Volatility
JRVR
Industry
5yr Volatility vs Market

Value

 Is James River Group Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of James River Group Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for James River Group Holdings.

NasdaqGS:JRVR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $26.52 * 8.7%
$2.30
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $26.52
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:JRVR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.69 (1 + (1- 21%) (15.7%))
0.85
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.85 * 5.96%)
7.79%

Discounted Cash Flow Calculation for NasdaqGS:JRVR using Excess Returns Model Model

The calculations below outline how an intrinsic value for James River Group Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:JRVR Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.7% – 7.79%) * $26.52)
$0.23
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.23 / (7.79% - 2.73%)
$4.63
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $26.52 + $4.63
$31.15
NasdaqGS:JRVR Discount to Share Price
Calculation Result
Value per share (USD) From above. $31.15
Current discount Discount to share price of $46.38
= -1 x ($46.38 - $31.15) / $31.15
-48.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of James River Group Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for James River Group Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are James River Group Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:JRVR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.37
NasdaqGS:JRVR Share Price ** NasdaqGS (2019-06-17) in USD $46.38
United States of America Insurance Industry PE Ratio Median Figure of 90 Publicly-Listed Insurance Companies 17.59x
United States of America Market PE Ratio Median Figure of 3,093 Publicly-Listed Companies 17.68x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of James River Group Holdings.

NasdaqGS:JRVR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:JRVR Share Price ÷ EPS (both in USD)

= 46.38 ÷ 2.37

19.59x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • James River Group Holdings is overvalued based on earnings compared to the US Insurance industry average.
  • James River Group Holdings is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does James River Group Holdings's expected growth come at a high price?
Raw Data
NasdaqGS:JRVR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.59x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
7.9%per year
United States of America Insurance Industry PEG Ratio Median Figure of 66 Publicly-Listed Insurance Companies 1.55x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

NasdaqGS:JRVR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.59x ÷ 7.9%

2.49x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • James River Group Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on James River Group Holdings's assets?
Raw Data
NasdaqGS:JRVR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $25.01
NasdaqGS:JRVR Share Price * NasdaqGS (2019-06-17) in USD $46.38
United States of America Insurance Industry PB Ratio Median Figure of 119 Publicly-Listed Insurance Companies 1.21x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.79x
NasdaqGS:JRVR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:JRVR Share Price ÷ Book Value per Share (both in USD)

= 46.38 ÷ 25.01

1.85x

* Primary Listing of James River Group Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • James River Group Holdings is overvalued based on assets compared to the US Insurance industry average.
X
Value checks
We assess James River Group Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. James River Group Holdings has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is James River Group Holdings expected to grow at an attractive rate?
  • James River Group Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • James River Group Holdings's earnings growth is positive but not above the United States of America market average.
  • James River Group Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:JRVR Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:JRVR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 7.9%
NasdaqGS:JRVR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 4%
United States of America Insurance Industry Earnings Growth Rate Market Cap Weighted Average 9.6%
United States of America Insurance Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:JRVR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:JRVR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 99
2020-12-31 929 83 3
2019-12-31 875 84 3
NasdaqGS:JRVR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 881 277 71
2018-12-31 886 290 64
2018-09-30 889 339 52
2018-06-30 885 307 43
2018-03-31 860 240 41
2017-12-31 818 208 44
2017-09-30 769 191 69
2017-06-30 699 189 80
2017-03-31 631 169 80
2016-12-31 586 154 74
2016-09-30 542 96 61
2016-06-30 524 98 59

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • James River Group Holdings's earnings are expected to grow by 7.9% yearly, however this is not considered high growth (20% yearly).
  • James River Group Holdings's revenue is expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:JRVR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from James River Group Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:JRVR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 3.14 3.14 3.14 1.00
2020-12-31 2.84 3.10 2.65 4.00
2019-12-31 2.75 3.03 2.59 4.00
NasdaqGS:JRVR Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.37
2018-12-31 2.14
2018-09-30 1.76
2018-06-30 1.45
2018-03-31 1.38
2017-12-31 1.48
2017-09-30 2.35
2017-06-30 2.74
2017-03-31 2.75
2016-12-31 2.56
2016-09-30 2.12
2016-06-30 2.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if James River Group Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess James River Group Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
James River Group Holdings has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare James River Group Holdings's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • James River Group Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • James River Group Holdings's 1-year earnings growth exceeds its 5-year average (74.1% vs 2.6%)
  • James River Group Holdings's earnings growth has exceeded the US Insurance industry average in the past year (74.1% vs 6.6%).
Earnings and Revenue History
James River Group Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from James River Group Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:JRVR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 881.38 70.93 6.23
2018-12-31 885.60 63.83 6.23
2018-09-30 889.04 52.42 7.69
2018-06-30 885.21 43.19 7.69
2018-03-31 859.57 40.75 7.69
2017-12-31 817.63 43.57 7.69
2017-09-30 768.68 69.01 5.49
2017-06-30 699.18 80.03 5.49
2017-03-31 631.30 80.08 5.49
2016-12-31 586.23 74.47 5.49
2016-09-30 542.31 61.47 4.01
2016-06-30 524.07 59.06 4.01
2016-03-31 509.78 56.96 4.01
2015-12-31 504.92 53.50 4.01
2015-09-30 500.51 49.69 0.58
2015-06-30 479.21 47.90 0.89
2015-03-31 465.78 44.92 0.89
2014-12-31 439.00 44.69 0.89
2014-09-30 410.25 53.85 0.51
2014-06-30 391.78 57.85 0.93
2014-03-31 385.49 62.41 0.93
2013-12-31 386.29 67.34 0.93
2012-12-31 417.91 8.66 3.92

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • James River Group Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • James River Group Holdings used its assets less efficiently than the US Insurance industry average last year based on Return on Assets.
  • James River Group Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess James River Group Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
James River Group Holdings has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is James River Group Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up James River Group Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • James River Group Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • James River Group Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of James River Group Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 6.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from James River Group Holdings Company Filings, last reported 2 months ago.

NasdaqGS:JRVR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 754.30 219.66 224.69
2018-12-31 709.24 253.22 254.42
2018-09-30 697.41 202.36 224.64
2018-06-30 689.24 202.36 292.51
2018-03-31 685.77 202.36 181.09
2017-12-31 694.70 202.36 204.11
2017-09-30 720.97 192.36 152.64
2017-06-30 719.72 192.36 132.93
2017-03-31 708.26 192.36 152.65
2016-12-31 693.22 192.36 165.69
2016-09-30 745.77 192.36 119.20
2016-06-30 729.90 192.36 100.62
2016-03-31 705.57 192.36 116.98
2015-12-31 681.04 192.36 130.72
2015-09-30 707.42 192.36 128.04
2015-06-30 692.19 192.36 177.18
2015-03-31 697.54 192.36 238.39
2014-12-31 687.92 192.36 212.63
2014-09-30 674.71 182.36 220.37
2014-06-30 731.86 162.06 203.18
2014-03-31 701.49 162.06 247.43
2013-12-31 701.49 162.06 247.43
2012-12-31 784.04 139.06 194.59
  • James River Group Holdings's level of debt (26.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (23.1% vs 26.8% today).
  • Debt is well covered by operating cash flow (136.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.8x coverage).
X
Financial health checks
We assess James River Group Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. James River Group Holdings has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.59%
Current annual income from James River Group Holdings dividends. Estimated to be 2.75% next year.
If you bought $2,000 of James River Group Holdings shares you are expected to receive $52 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • James River Group Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • James River Group Holdings's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:JRVR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Insurance Industry Average Dividend Yield Market Cap Weighted Average of 80 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:JRVR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.36 1.00
2020-12-31 1.30 4.00
2019-12-31 1.21 3.00
NasdaqGS:JRVR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-21 1.200 2.862
2018-09-04 1.200 3.103
2018-08-01 1.700 4.177
2018-05-02 1.700 4.352
2018-02-22 1.700 4.810
2017-11-01 1.700 4.391
2017-05-03 2.550 6.304
2017-02-15 2.550 6.068
2016-11-04 1.200 2.989
2016-11-02 1.200 3.261
2016-08-05 0.800 2.198
2016-08-03 0.800 2.332
2016-05-06 0.800 2.374
2016-05-04 0.800 2.543
2016-03-10 1.800 5.719
2016-02-17 1.800 5.914
2015-08-06 0.640 2.149
2015-08-05 0.640 2.305
2015-05-12 0.640 2.551
2015-05-06 0.640 2.650
2015-03-12 0.640 2.715
2015-02-18 0.640 2.883

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • James River Group Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but James River Group Holdings only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of James River Group Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess James River Group Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can James River Group Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. James River Group Holdings has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of James River Group Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bob Myron
COMPENSATION $4,932,900
AGE 49
TENURE AS CEO 1.4 years
CEO Bio

Mr. Robert P. Myron, also known as Bob, has been the Chief Executive Officer of James River Group Holdings, Ltd. since January 2018 and also serves as its President. Mr. Myron served as President and Chief Operating Officer of James River Group Holdings, Ltd. since September 2014 until December 2017. Mr. Myron served as an Interim Chief Financial Officer of James River Group Holdings, Ltd. since January 16, 2017 until March 10, 2017. Mr. Myron served as Chief Executive Officer of James River Group Holdings, Ltd. from October 2012 to September 2014 and served as the Chief Financial Officer from June 2010 to September 2012. He served as Senior Vice President of Finance at The Hanover Insurance Group Inc. Mr. Myron served as Senior Vice President, Treasurer, Chief Risk Officer and Director of Corporate Finance at The Hanover Insurance Group Inc. from November 2007 to 2010. He served as Chief Financial Officer of Argo Group International Holdings, Ltd. from December 2005 to October 2007. He served as an Executive Vice President and Treasurer of Argo Group International Holdings, Ltd. since December 2005 and 2003 respectively. He served as the Principal Accounting Officer of Argo Group International Holdings, Ltd. Mr. Myron served as the Chief Financial Officer and Executive Vice President of Pxre Group Ltd. from 2005 to August 2007 and served as its Treasurer since 2003 and also served as its Principal Accounting Officer. He served as Senior VP & Treasurer of Citizens Insurance Company of America from 2009 to 2010. He served as Treasurer of Hanover National Insurance Co. until 2010. He served as Treasurer of Hanover New Jersery Insurance Co. until 2010. He served as Treasurer at NOVA Casualty Co. until 2010. Mr. Myron served as the Senior Vice President of Pxre Group Ltd until January 2006. Mr. Myron was with PXRE Group Ltd. since February 2003 and served in various capacities including Chief Financial Officer of PXRE Reinsurance Ltd., PXRE's Bermuda-based operating subsidiary. From 1999 to 2003, Mr. Myron served as an officer of Select Reinsurance Ltd., a privately held Bermuda- based reinsurance company and served as its President. From 1991 to 1999, he worked in the Boston and Bermuda offices of PricewaterhouseCoopers, principally for clients in the financial services arena. He has been a Director of James River Group Holdings, Ltd. since December 2010. He served as a Director of Select Reinsurance Ltd. Mr. Myron holds the Associate in Reinsurance designation and is a Certified Public Accountant. He has a BS degree in Accounting from Babson College in 1991 and B.A. in American Studies from Babson College.

CEO Compensation
  • Bob's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Bob's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the James River Group Holdings management team in years:

1.8
Average Tenure
49
Average Age
  • The average tenure for the James River Group Holdings management team is less than 2 years, this suggests a new team.
Management Team

Bob Myron

TITLE
President
COMPENSATION
$5M
AGE
49
TENURE
1.4 yrs

Sarah Doran

TITLE
Chief Financial Officer
COMPENSATION
$952K
AGE
44
TENURE
2.4 yrs

Richard Schmitzer

TITLE
President & CEO of the Excess and Surplus Lines Segment
COMPENSATION
$2M
AGE
62
TENURE
9.3 yrs

Daniel Heinlein

TITLE
President & CEO of the Casualty Reinsurance Division
COMPENSATION
$982K
AGE
32
TENURE
1.2 yrs

Terry McCafferty

TITLE
CEO & President of Specialty Admitted Insurance Segment
COMPENSATION
$630K
AGE
54
TENURE
0.7 yrs

Kevin Copeland

TITLE
SVP Finance & Chief Investment Officer
TENURE
2.1 yrs
Board of Directors Tenure

Average tenure and age of the James River Group Holdings board of directors in years:

4.5
Average Tenure
51
Average Age
  • The tenure for the James River Group Holdings board of directors is about average.
Board of Directors

Jonathan Abram

TITLE
Non-Executive Chairman
COMPENSATION
$532K
AGE
62
TENURE
11.5 yrs

Bob Myron

TITLE
President
COMPENSATION
$5M
AGE
49
TENURE
8.5 yrs

Bryan Martin

TITLE
Lead Director
COMPENSATION
$176K
AGE
51
TENURE
4.5 yrs

Michael Oakes

TITLE
Director
COMPENSATION
$176K
AGE
53
TENURE
11.5 yrs

David Zwillinger

TITLE
Director
COMPENSATION
$176K
AGE
38
TENURE
11.5 yrs

Jerry Masters

TITLE
Director
COMPENSATION
$201K
AGE
60
TENURE
4.5 yrs

Janet Cowell

TITLE
Director
COMPENSATION
$176K
AGE
49
TENURE
3.1 yrs

Ollie Sherman

TITLE
Director
COMPENSATION
$176K
AGE
66
TENURE
3.1 yrs

Christopher Harris

TITLE
Director
COMPENSATION
$19K
AGE
48
TENURE
0.6 yrs

Sundar Srinivasan

TITLE
Director
COMPENSATION
$19K
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess James River Group Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. James River Group Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

With A Return On Equity Of 9.4%, Has James River Group Holdings, Ltd.'s (NASDAQ:JRVR) Management Done Well?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for James River Group Holdings: 9.4% = US$71m ÷ US$754m (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Does James River Group Holdings Have A Good Return On Equity? … James River Group Holdings's Debt And Its 9.4% ROE Although James River Group Holdings does use debt, its debt to equity ratio of 0.29 is still low.

Simply Wall St -

Should We Worry About James River Group Holdings, Ltd.'s (NASDAQ:JRVR) P/E Ratio?

We'll apply a basic P/E ratio analysis to James River Group Holdings, Ltd.'s (NASDAQ:JRVR), to help you decide if the stock is worth further research. … Based on the last twelve months, James River Group Holdings's P/E ratio is 19.49. … See our latest analysis for James River Group Holdings?

Simply Wall St -

How Much Are James River Group Holdings, Ltd. (NASDAQ:JRVR) Insiders Taking Off The Table?

So shareholders might well want to know whether insiders have been buying or selling shares in James River Group Holdings, Ltd. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … James River Group Holdings Insider Transactions Over The Last Year.

Simply Wall St -

Was James River Group Holdings, Ltd.'s (NASDAQ:JRVR) Earnings Growth Better Than The Industry's?

Assessing James River Group Holdings, Ltd.'s (NASDAQ:JRVR) performance as a company requires looking at more than just a years' earnings data. … Below, I will run you through a simple sense check to build perspective on how James River Group Holdings is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its insurance industry peers. … View our latest analysis for James River Group Holdings?

Simply Wall St -

These Factors Make James River Group Holdings, Ltd. (NASDAQ:JRVR) An Interesting Investment

(NASDAQ:JRVR) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … Below, I've touched on some key aspects you should know on a high level

Simply Wall St -

How Does James River Group Holdings, Ltd. (NASDAQ:JRVR) Fare As A Dividend Stock?

James River Group Holdings, Ltd. … Does James River Group Holdings tick all the boxes of a great dividend stock? … View our latest analysis for James River Group Holdings

Simply Wall St -

With A Return On Equity Of 9.0%, Has James River Group Holdings, Ltd.'s (NASDAQ:JRVR) Management Done Well?

To keep the lesson grounded in practicality, we'll use ROE to better understand James River Group Holdings, Ltd. … Over the last twelve months James River Group Holdings has recorded a ROE of 9.0%. … View our latest analysis for James River Group Holdings?

Simply Wall St -

James River Group Holdings, Ltd. (NASDAQ:JRVR) Investors Are Paying Above The Intrinsic Value

Pricing insurance stocks such as JRVR is particularly challenging. … Given that these companies adhere to a different set of rules relative to other companies, their cash flows should also be valued differently. … For example, insurance companies are required to hold more capital to reduce the risk to shareholders.

Simply Wall St -

Should You Be Tempted To Sell James River Group Holdings, Ltd. (NASDAQ:JRVR) Because Of Its P/E Ratio?

We'll show how you can use James River Group Holdings, Ltd.'s (NASDAQ:JRVR) P/E ratio to inform your assessment of the investment opportunity. … James River Group Holdings has a P/E ratio of 22.11, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Is James River Group Holdings Ltd (NASDAQ:JRVR) A Smart Choice For Dividend Investors?

James River Group Holdings Ltd (NASDAQ:JRVR) has recently paid dividends to shareholders, and currently yields 3.2%. … Does James River Group Holdings tick all the boxes of a great dividend stock? … Check out our latest analysis for James River Group Holdings

Simply Wall St -

Company Info

Description

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its 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. This segment distributes its insurance policies primarily through wholesale insurance brokers. The company’s Specialty Admitted Insurance segment provides workers’ compensation coverage for building trades, healthcare employees, goods and services, light manufacturing, specialty transportation, agriculture, and fronting and program business in North Carolina, Tennessee, Virginia, South Carolina, Georgia, New Jersey, Missouri, Kansas, Pennsylvania, Massachusetts, Rhode Island, Alabama, Connecticut, and Mississippi. Its Casualty Reinsurance segment offers proportional and working layer casualty reinsurance to third parties and unaffiliated insurance companies. James River Group Holdings, Ltd. was founded in 2002 and is headquartered in Pembroke, Bermuda.

Details
Name: James River Group Holdings, Ltd.
JRVR
Exchange: NasdaqGS
Founded: 2002
$1,398,970,792
30,163,234
Website: http://www.jrgh.net
Address: James River Group Holdings, Ltd.
Wellesley House,
2nd Floor,
Pembroke,
HM 08,
Bermuda
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS JRVR Common Shares Nasdaq Global Select US USD 12. Dec 2014
DB 0JR Common Shares Deutsche Boerse AG DE EUR 12. Dec 2014
Number of employees
Current staff
Staff numbers
750
James River Group Holdings employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 00:42
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.