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

James River Group Holdings, Ltd. (NASDAQ:JRVR) declared a quarterly dividend on Wednesday, March 4th, NASDAQ Dividends reports. Shareholders of record on Friday, March 13th will be given a dividend of 0.01 per share by the insurance provider on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, March 13th.

James River Group has decreased its dividend by an average of 0.3%per year over the last three years. James River Group has a payout ratio of 3.5% indicating that its dividend is sufficiently covered by earnings. 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 Up 4.0%

Shares of JRVR stock traded up $0.27 on Wednesday, reaching $6.94. 394,513 shares of the company’s stock were exchanged, compared to its average volume of 263,007. The company’s fifty day simple moving average is $6.63 and its 200 day simple moving average is $6.00. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $319.03 million, a PE ratio of 9.51 and a beta of -0.06. James River Group has a 52 week low of $3.46 and a 52 week high of $7.20.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Monday, March 2nd. The insurance provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). James River Group had a net margin of 6.90% and a return on equity of 12.28%. The company had revenue of $167.75 million for the quarter, compared to the consensus estimate of $171.98 million. As a group, analysts forecast that James River Group will post -0.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on JRVR shares. Weiss Ratings restated a “sell (d-)” rating on shares of James River Group in a research note on Monday, December 29th. Truist Financial upped their price target on shares of James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday. Zacks Research lowered James River Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Compass Point lowered James River Group from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a report on Tuesday, December 16th. Finally, Wall Street Zen downgraded James River Group from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.80.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.