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

Key Points

• James River Group declared a quarterly dividend of $0.01 per share, payable December 31 to shareholders of record December 15. The annualized dividend is $0.04, representing a 1.1% yield.
• The dividend appears well covered: the payout ratio is 3.5%, and analysts expect a 5.9% payout ratio based on next year’s projected earnings. The company’s dividend has declined by an average of 0.5% annually over the past three years.
• James River reported a quarterly loss of $0.10 per share, missing the $0.17 earnings estimate, despite revenue of $147.71 million exceeding expectations. Analysts’ consensus rating is “Reduce,” with a $5.75 price target.

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report) declared a quarterly dividend on Monday, November 9th. Investors of record on Tuesday, December 15th will be given a dividend of $0.01 per share by the insurance provider on Thursday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, December 15th.

James River Group has decreased its dividend payment by an average of 0.5% 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. Analysts expect James River Group to earn $0.68 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 5.9%.

James River Group Stock Performance

Shares of NASDAQ:JRVR opened at $3.77 on Tuesday. The firm has a fifty day simple moving average of $3.79 and a two-hundred day simple moving average of $4.93. James River Group has a 52 week low of $3.36 and a 52 week high of $7.20. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $174.36 million, a P/E ratio of 9.92 and a beta of -0.14.

James River Group (NASDAQ:JRVR - Get Free Report) last released its quarterly earnings results on Monday, November 9th. The insurance provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.27). The company had revenue of $147.71 million for the quarter, compared to analysts' expectations of $134.80 million. James River Group had a net margin of 4.68% and a return on equity of 9.93%. On average, analysts expect that James River Group will post 0.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JRVR has been the topic of several recent analyst reports. Truist Financial cut their price objective on shares of James River Group from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, August 12th. Weiss Ratings restated a "sell (d+)" rating on shares of James River Group in a research note on Wednesday, November 4th. Finally, UBS Group decreased their price target on shares of James River Group from $4.75 to $4.00 and set a "neutral" rating for the company in a report on Monday, August 17th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $5.75.

James River Group Company Profile

James River Group Holdings, Ltd. NASDAQ: JRVR is a specialty insurance holding company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides commercial casualty insurance and reinsurance products to businesses and other insurance organizations.

The company's operations have included excess and surplus lines insurance, specialty admitted insurance and casualty reinsurance. Its products are designed for risks that may require customized underwriting or coverage that is not readily available through standard commercial insurance markets.

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