James River Group Holdings, Ltd. (NASDAQ:JRVR) declared a quarterly dividend on Wednesday, May 5th, Zacks reports. Shareholders of record on Monday, June 14th will be paid a dividend of 0.30 per share by the insurance provider on Wednesday, June 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Friday, June 11th.
James River Group has a dividend payout ratio of -72.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect James River Group to earn $2.28 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 52.6%.
Shares of James River Group stock opened at $35.39 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.57. James River Group has a 12-month low of $30.75 and a 12-month high of $57.41. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -17.52 and a beta of 0.46. The company’s 50 day moving average is $40.98.
A number of analysts recently issued reports on JRVR shares. Zacks Investment Research downgraded shares of James River Group from a “hold” rating to a “sell” rating in a report on Friday, May 7th. Truist Securities raised shares of James River Group from a “hold” rating to a “buy” rating and lowered their price target for the stock from $56.00 to $43.00 in a report on Friday, May 7th. TheStreet downgraded shares of James River Group from a “b” rating to a “c+” rating in a report on Thursday, February 25th. Finally, Truist raised shares of James River Group from a “hold” rating to a “buy” rating and lowered their price target for the stock from $56.00 to $43.00 in a report on Friday, May 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $54.50.
About James River Group
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. The 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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