James River Group Holdings, Ltd. to Issue Quarterly Dividend of $0.05 (NASDAQ:JRVR)

James River Group Holdings, Ltd. (NASDAQ:JRVR) announced a quarterly dividend on Saturday, September 14th, Zacks reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.05 per share by the insurance provider on Monday, September 30th. This represents a $0.20 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Monday, September 16th.

James River Group has decreased its dividend by an average of 45.0% annually over the last three years. James River Group has a dividend payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect James River Group to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 10.3%.

James River Group Stock Up 6.7 %

Shares of JRVR stock opened at $6.81 on Friday. James River Group has a 1 year low of $6.14 and a 1 year high of $15.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.64 and a current ratio of 0.64. The business’s fifty day moving average is $7.53 and its 200-day moving average is $8.02. The stock has a market cap of $257.62 million, a PE ratio of -3.26 and a beta of 0.17.

James River Group (NASDAQ:JRVR) last released its earnings results on Monday, August 5th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). James River Group had a positive return on equity of 11.66% and a negative net margin of 12.79%. The firm had revenue of $188.30 million for the quarter, compared to analyst estimates of $169.39 million. During the same period in the previous year, the firm earned $0.53 earnings per share. James River Group’s revenue was down 3.3% on a year-over-year basis. Equities analysts expect that James River Group will post 1.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial dropped their target price on shares of James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. JMP Securities dropped their price target on James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 6th. Finally, Compass Point reduced their price objective on James River Group from $12.50 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, James River Group has an average rating of “Hold” and a consensus price target of $11.17.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.