James River Group Holdings Ltd (NASDAQ:JRVR) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Stockholders of record on Monday, September 14th will be paid a dividend of 0.30 per share by the insurance provider on Wednesday, September 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, September 11th.
James River Group has raised its dividend payment by an average of 33.3% per year over the last three years. James River Group has a dividend payout ratio of 59.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect James River Group to earn $2.17 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 55.3%.
Shares of JRVR stock traded down $0.32 during trading hours on Friday, hitting $46.53. 1,404 shares of the company were exchanged, compared to its average volume of 156,620. The firm has a market cap of $1.43 billion, a PE ratio of -223.08 and a beta of 0.52. James River Group has a 1 year low of $25.34 and a 1 year high of $52.18. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average of $44.81 and a 200 day moving average of $39.78.
James River Group (NASDAQ:JRVR) last posted its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.08. James River Group had a negative net margin of 0.38% and a positive return on equity of 4.48%. The firm had revenue of $186.75 million for the quarter, compared to analyst estimates of $188.85 million. Analysts expect that James River Group will post 1.86 earnings per share for the current year.
JRVR has been the topic of a number of analyst reports. ValuEngine lowered shares of James River Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. B. Riley lifted their price objective on shares of James River Group from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. SunTrust Banks lifted their price objective on shares of James River Group from $42.00 to $53.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. BidaskClub lowered shares of James River Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, TheStreet raised shares of James River Group from a “c” rating to a “b” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.75.
In other James River Group news, Director Janet Raye Cowell sold 1,115 shares of James River Group stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $39.38, for a total value of $43,908.70. Following the completion of the transaction, the director now owns 5,792 shares of the company’s stock, valued at $228,088.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO J Adam Abram acquired 15,384 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was acquired at an average cost of $33.51 per share, with a total value of $515,517.84. Following the acquisition, the chief executive officer now owns 470,616 shares of the company’s stock, valued at $15,770,342.16. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.
James River Group Company Profile
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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