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

James River Group Holdings, Ltd. (NASDAQ:JRVR) announced a quarterly dividend on Monday, August 5th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Monday, September 16th.

James River Group has decreased its dividend payment by an average of 45.0% annually over the last three years. James River Group has a dividend payout ratio of 11.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect James River Group to earn $2.15 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 9.3%.

James River Group Stock Up 5.0 %

Shares of NASDAQ:JRVR traded up $0.36 during midday trading on Wednesday, hitting $7.50. 117,792 shares of the company’s stock were exchanged, compared to its average volume of 852,615. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a 50 day moving average price of $7.77 and a 200-day moving average price of $8.54. The company has a market cap of $283.70 million, a PE ratio of -3.42 and a beta of 0.16. James River Group has a 12 month low of $6.35 and a 12 month high of $17.50.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, August 5th. The insurance provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.09). The business had revenue of $188.30 million for the quarter, compared to the consensus estimate of $169.39 million. James River Group had a positive return on equity of 12.85% and a negative net margin of 10.56%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. On average, sell-side analysts anticipate that James River Group will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JRVR shares. Truist Financial decreased their target price on shares of James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday. Compass Point cut their price target on shares of James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, JMP Securities cut their price target on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a report on Tuesday. One research 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. According to MarketBeat, James River Group currently has a consensus 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.