James River Group Holdings, Ltd. Announces Quarterly Dividend of $0.01 (NASDAQ:JRVR)

James River Group Holdings, Ltd. (NASDAQ:JRVR) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Investors of record on Monday, March 10th will be paid a dividend of 0.01 per share by the insurance provider on Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, March 10th.

James River Group has decreased its dividend by an average of 48.9% per year over the last three years. James River Group has a payout ratio of 2.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect James River Group to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.2%.

James River Group Trading Down 28.4 %

James River Group stock traded down $1.39 during trading on Tuesday, hitting $3.51. The company had a trading volume of 4,479,951 shares, compared to its average volume of 472,392. James River Group has a 1-year low of $3.06 and a 1-year high of $10.07. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.38. The company’s 50 day simple moving average is $4.81 and its 200-day simple moving average is $5.58. The stock has a market cap of $132.78 million, a price-to-earnings ratio of -0.87 and a beta of 0.07.

James River Group (NASDAQ:JRVR) last announced its earnings results on Monday, March 3rd. The insurance provider reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.66). The business had revenue of $126.71 million for the quarter, compared to analysts’ expectations of $159.91 million. James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, analysts expect that James River Group will post -0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JMP Securities dropped their price objective on shares of James River Group from $11.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, James River Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

About James River Group

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.