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

James River Group Holdings, Ltd. (NASDAQ:JRVR) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Stockholders of record on Monday, March 10th will be given a dividend of 0.01 per share by the insurance provider on Monday, March 31st. This represents a $0.04 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, March 10th.

James River Group has decreased its dividend by an average of 48.9% annually over the last three years. James River Group has a payout ratio of 2.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of JRVR stock traded down $1.39 during mid-day trading on Tuesday, hitting $3.51. The stock had a trading volume of 4,479,951 shares, compared to its average volume of 472,392. The firm has a market cap of $132.78 million, a PE ratio of -0.87 and a beta of 0.07. James River Group has a fifty-two week low of $3.06 and a fifty-two week high of $10.07. The company’s 50-day simple moving average is $4.81 and its 200-day simple moving average is $5.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.65.

James River Group (NASDAQ:JRVR) last released its quarterly earnings data on Monday, March 3rd. The insurance provider reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.66). James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. The business had revenue of $126.71 million during the quarter, compared to analysts’ expectations of $159.91 million. During the same quarter in the previous year, the company posted $0.33 EPS. Sell-side analysts anticipate that James River Group will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JMP Securities dropped their price objective on James River Group from $11.00 to $8.00 and set a “market outperform” rating for the company in a research note on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.40.

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.