James River Group Holdings, Ltd. (NASDAQ:JRVR) posted its earnings results on Wednesday. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.03, Briefing.com reports. The firm had revenue of $220.87 million during the quarter, compared to the consensus estimate of $198.67 million. James River Group Holdings had a net margin of 8.98% and a return on equity of 9.41%. The company’s revenue was up 45.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of Infinity. The ex-dividend date is Thursday, December 14th. This is an increase from James River Group Holdings’s previous quarterly dividend of $0.30. James River Group Holdings’s dividend payout ratio is 52.63%.
In related news, CEO Steven J. Hartman sold 19,736 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $39.42, for a total value of $777,993.12. Following the transaction, the chief executive officer now directly owns 70,315 shares of the company’s stock, valued at approximately $2,771,817.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven J. Hartman sold 5,264 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $38.91, for a total value of $204,822.24. Following the completion of the transaction, the chief executive officer now directly owns 55,843 shares in the company, valued at $2,172,851.13. The disclosure for this sale can be found here. 41.00% of the stock is owned by insiders.
JRVR has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of James River Group Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. ValuEngine downgraded shares of James River Group Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised shares of James River Group Holdings from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. JMP Securities initiated coverage on shares of James River Group Holdings in a research report on Tuesday, October 17th. They set an “outperform” rating and a $47.00 target price for the company. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $42.00 target price on shares of James River Group Holdings in a research report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. James River Group Holdings currently has a consensus rating of “Hold” and a consensus target price of $47.00.
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James River Group Holdings Company Profile
James River Group Holdings, Ltd. (JRG Holdings) is an insurance and reinsurance holding company. The Company operates through four segments: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products.
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