James River Group
Underwrites specialty casualty insurance and selectively provides admitted insurance and fronting.
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Profile
Sells specialty property-casualty insurance through excess-and-surplus and specialty-admitted/fronting operations. Makes E&S underwriting its core business while limiting retained risk in specialty-admitted activity after the sale of its casualty-reinsurance operation.
Underwrites excess-and-surplus casualty insurance and runs a specialty-admitted/fronting business. The excess-and-surplus operation is the core focus, while specialty-admitted activity is managed selectively with minimal retained risk.
The group refocused on U.S. insurance and fronting after selling JRG Re, its casualty-reinsurance subsidiary. Its operating priorities include risk management, performance monitoring, underwriting discipline, and expense efficiency. These are explicit management-stated priorities rather than a separate, formally articulated cultural doctrine for the enterprise.
Commercial-auto reserve additions and later loss-portfolio and adverse-development-cover arrangements document how loss development and capital management have shaped the business.
Company facts
Key statistics
Year to date −32.7% · Average volume (30d) 237.4K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | UBS | Reiterate | Neutral | $4.75 | $4 | |
| May 19, 2026 | UBS | Downgrade | Buy | Neutral | $4.75 | |
| May 5, 2026 | Citizens | Downgrade | Market Outperform | Market Perform | ||
| Mar 3, 2026 | Truist Financial | Target | $5 | $7 | ||
| Dec 16, 2025 | Raymond James | Target | $7 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | $0.24 | $0.20 | −17.7% | $135.5M | $139.0M | +2.6% | −7.49% |
| May 4, 2026Q1 FY26 | $0.27 | $0.12 | −55.4% | $155.1M | $135.7M | −12.5% | −23.65% |
| Mar 2, 2026Q4 FY25 | $0.31 | $0.30 | −3.2% | $153.7M | $147.3M | −4.1% | −6.45% |
| Nov 3, 2025Q3 FY25 | $0.26 | $0.32 | +23.1% | $172.0M | $172.7M | +0.4% | +15.09% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $172.3M | $174.8M | $172.7M | $167.7M | $151.4M | $161.3M | |
| Gross profit | $55.2M | $44.3M | $36.4M | $59.0M | $43.2M | $161.3M | |
| Operating income | $16.0M | $7.3M | $2.7M | $24.6M | −$10.6M | $6.6M | |
| Net income | $9.6M | $4.8M | $1.0M | $32.1M | −$8.9M | $6.6M | |
| Diluted EPS | $0.13 | $0.06 | −$0.02 | $0.50 | −$0.23 | $0.09 | |
| Gross margin | 32.1% | 25.3% | 21.1% | 35.2% | 28.6% | 99.9% | |
| Operating margin | 9.3% | 4.2% | 1.5% | 14.6% | -7.0% | 4.1% |
Fiscal years (4-quarter sums)FY21 $772.9M · FY22 $813.7M · FY23 $713.7M · FY24 $707.6M · FY25 $687.6M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $204.2M · Total debt $329.9M · Total assets $2.48B · Shareholders' equity $655.7M
Dividends
Last cut to $0.01 from $0.05 in Dec 2024. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 8, 2026 | Jun 8 | Jun 30 | $0.01 | |
| Mar 13, 2026 | Mar 13 | Mar 31 | $0.01 | |
| Dec 15, 2025 | Dec 15 | Dec 31 | $0.01 | |
| Sep 15, 2025 | Sep 15 | Sep 30 | $0.01 | |
| Jun 9, 2025 | Jun 9 | Jun 30 | $0.01 | |
| Mar 10, 2025 | Mar 10 | Mar 31 | $0.01 | |
| Dec 16, 2024 | Dec 16 | Dec 31 | $0.01 | cut from $0.05 |
| Sep 16, 2024 | Sep 16 | Sep 30 | $0.05 |
Ownership
Shares outstanding 46.24M · Float 40.57M · 87.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Zimmer Partners, LP | 4.62M | 10.00% | 13F | Aug 14, 2026 |
| T. Rowe Price Investment Management, Inc. | 4.61M | 9.96% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 3.39M | 7.34% | 13F | Aug 7, 2026 |
| Continental General Insurance Co | 2.61M | 5.64% | 13F | Aug 13, 2026 |
| Enstar Group Limited | 2.59M | 5.60% | 13G | Nov 13, 2025 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Kinsale Capital Group
Pure-play U.S. E&S insurer for commercial casualty and property
- RLI
Specialty carrier spanning E&S, admitted insurance, and programs
- Skyward Specialty
U.S. specialty P&C carrier across E&S, admitted, and program lines
- W. R. Berkley
Commercial insurer with dedicated nationwide U.S. E&S businesses
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| James River Group | $4.14 | −0.12% | $191.4M | 12.0 | 4.6 | 0.3 | −20.5% |
| Kinsale Capital Group | $385.00 | +1.13% | $8.67B | 15.4 | 18.1 | 4.3 | −3.7% |
| RLI | $64.31 | +0.03% | $5.90B | 13.5 | 23.8 | 3.0 | +16.0% |
| Skyward Specialty | $58.29 | −0.03% | $2.36B | 13.6 | 11.3 | 1.4 | +130.9% |
| W. R. Berkley | $70.65 | +3.20% | $25.48B | 14.1 | 14.5 | 1.4 | +1.2% |
| Median | 13.8 | 16.3 | 2.2 | +8.6% |