James River Group Holdings, Ltd. (JRVR) to Issue Quarterly Dividend of $0.01 on December 31st

James River Group Holdings, Ltd. (NASDAQ:JRVR) announced a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.01 per share by the insurance provider on Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, December 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 11.6% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

JRVR traded down $0.36 on Wednesday, hitting $4.60. 1,315,469 shares of the company were exchanged, compared to its average volume of 674,676. James River Group has a 12 month low of $4.59 and a 12 month high of $11.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.67. The stock’s fifty day moving average is $6.47 and its 200-day moving average is $7.32.

James River Group (NASDAQ:JRVR) last released its earnings results on Monday, November 11th. The insurance provider reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.89). James River Group had a positive return on equity of 4.18% and a negative net margin of 20.84%. The company had revenue of $191.50 million for the quarter, compared to the consensus estimate of $137.28 million. During the same quarter in the previous year, the company posted $0.48 EPS. The business’s revenue was down 8.9% on a year-over-year basis. As a group, research analysts forecast that James River Group will post 1.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on JRVR. JMP Securities lowered their price target on James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 6th. Compass Point lowered their price target on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Truist Financial lowered their price target on James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

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.