James River Group Holdings Ltd (NASDAQ:JRVR) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.30 per share by the insurance provider on Monday, September 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Friday, September 13th.
James River Group has increased its dividend by an average of 23.3% per year over the last three years. James River Group has a dividend payout ratio of 51.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect James River Group to earn $2.70 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 44.4%.
Shares of JRVR stock traded down $0.09 during mid-day trading on Friday, reaching $46.78. 108 shares of the company were exchanged, compared to its average volume of 109,182. James River Group has a fifty-two week low of $34.08 and a fifty-two week high of $48.78. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.44 billion, a P/E ratio of 20.16 and a beta of 0.50. The company has a 50 day moving average price of $47.19.
Several brokerages recently issued reports on JRVR. B. Riley set a $40.00 price objective on James River Group and gave the stock a “hold” rating in a research note on Wednesday. Zacks Investment Research upgraded James River Group from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Wednesday, May 8th. ValuEngine cut James River Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, BidaskClub upgraded James River Group from a “hold” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $42.50.
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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