James River Group Holdings Ltd (NASDAQ:JRVR) declared a quarterly dividend on Wednesday, November 7th, Zacks reports. Shareholders of record on Friday, December 14th will be paid a dividend of 0.30 per share by the insurance provider on Friday, December 28th. This represents a $1.20 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Thursday, December 13th.
James River Group has a payout ratio of 51.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect James River Group to earn $2.65 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 45.3%.
Shares of NASDAQ:JRVR opened at $37.97 on Friday. James River Group has a 12-month low of $32.17 and a 12-month high of $43.47. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 24.18 and a beta of 0.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.31 and a quick ratio of 0.31.
James River Group (NASDAQ:JRVR) last posted its quarterly earnings data on Thursday, November 8th. The insurance provider reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. The business had revenue of $224.69 million during the quarter, compared to analysts’ expectations of $224.90 million. James River Group had a return on equity of 8.33% and a net margin of 5.90%. On average, sell-side analysts anticipate that James River Group will post 2.41 EPS for the current year.
A number of analysts have recently commented on JRVR shares. Keefe, Bruyette & Woods cut James River Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $45.00 to $40.00 in a research report on Sunday, November 11th. BidaskClub cut James River Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 10th. Zacks Investment Research upgraded James River Group from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, November 13th. Finally, ValuEngine cut James River Group from a “buy” rating to a “hold” rating in a research report on Monday, October 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.00.
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 property and liability insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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