James River Group Holdings Ltd (NASDAQ:JRVR) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Monday, September 14th will be given a dividend of 0.30 per share by the insurance provider on Wednesday, September 30th. This represents a $1.20 annualized dividend and a yield of 2.58%. The ex-dividend date is Friday, September 11th.
James River Group has raised its dividend payment by an average of 33.3% per year over the last three years. James River Group has a dividend payout ratio of 59.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect James River Group to earn $2.17 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 55.3%.
Shares of NASDAQ JRVR traded down $0.32 during trading on Friday, hitting $46.53. The company had a trading volume of 1,404 shares, compared to its average volume of 156,620. The stock has a fifty day simple moving average of $44.81 and a two-hundred day simple moving average of $39.78. James River Group has a fifty-two week low of $25.34 and a fifty-two week high of $52.18. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -223.08 and a beta of 0.52. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.
In other James River Group news, CEO J Adam Abram acquired 15,384 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average price of $33.51 per share, for a total transaction of $515,517.84. Following the completion of the acquisition, the chief executive officer now owns 470,616 shares of the company’s stock, valued at approximately $15,770,342.16. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sarah C. Doran acquired 2,555 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $29.40 per share, with a total value of $75,117.00. Following the acquisition, the chief financial officer now directly owns 46,270 shares of the company’s stock, valued at approximately $1,360,338. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.
A number of research firms recently weighed in on JRVR. B. Riley boosted their price target on shares of James River Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their target price on shares of James River Group from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, May 7th. BidaskClub downgraded shares of James River Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. TheStreet raised shares of James River Group from a “c” rating to a “b” rating in a research note on Wednesday. Finally, Zacks Investment Research downgraded shares of James River Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. James River Group has an average rating of “Hold” and a consensus target price of $47.75.
About James River Group
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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