James River -3.5% as SunTrust sees ‘material risk’ – James River Group Holdings, Ltd. (NASDAQ:JRVR)

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James River Group Holdings (NASDAQ:JRVR) drops Three.5% as SunTrust analyst Mark Hughes writes a notice saying the insurer faces a “materials threat of additional loss improvement” in its auto e-book, which is dominated by Uber.

James River Group’s transfer to finish its relationship with Uber, as a substitute of shift to a extra favorable combine over time illustrates the deterioration of the claims atmosphere, Hughes writes.

Maintains maintain score; worth goal at $40.

Quant score Bearish; Promote-Facet common score is Maintain (1 Outperform, Three Maintain, 1 Promote).

James River Group has declined 20% previously three months vs. monetary sector median efficiency of -2.5%.

Beforehand: James River Group -9.1% after dumping Uber enterprise (Oct. 9)

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