Truist analyst Mark Hughes lowered the firm’s price target on James River Group to $11 from $15 and keeps a Hold rating on the shares. The company’s Q4 missed estimates as it experienced net adverse development of $25 million overall in the Excess & Surplus segment, though it appears to have the opportunity to return to an even keel assuming it has addressed its reserve issue, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on JRVR:
- James River Group reports Q4 adjusted EPS 33c, consensus 44c
- Is JRVR a Buy, Before Earnings?
- James River To Hold Its Fourth Quarter Earnings Conference Call on Thursday, February 29, 2024
- James River bidding process narrowing, The Insurer says
- SHAREHOLDER ALERT: Potential Recovery for James River Group Holdings, Ltd. (JRVR) Investors