Employers Holdings, Inc. (NYSE:EIG) Plans Quarterly Dividend of $0.30

Employers Holdings, Inc. (NYSE:EIG) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Wednesday, May 8th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, May 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, May 7th. This is a boost from Employers’s previous quarterly dividend of $0.28.

Employers has raised its dividend payment by an average of 3.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Employers has a payout ratio of 30.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Employers to earn $3.70 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 30.3%.

Employers Stock Up 1.1 %

Shares of NYSE:EIG traded up $0.50 during trading on Friday, reaching $44.01. 301,795 shares of the company traded hands, compared to its average volume of 111,785. The firm has a fifty day simple moving average of $44.50 and a 200 day simple moving average of $41.26. Employers has a 1-year low of $35.43 and a 1-year high of $46.78. The firm has a market cap of $1.12 billion, a P/E ratio of 9.32 and a beta of 0.24.

Employers (NYSE:EIG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02). The firm had revenue of $223.10 million for the quarter, compared to analyst estimates of $217.46 million. Employers had a net margin of 14.16% and a return on equity of 10.65%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, research analysts anticipate that Employers will post 3.73 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on EIG shares. Janney Montgomery Scott downgraded shares of Employers from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. Truist Financial increased their target price on shares of Employers from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th.

Employers Company Profile

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers' compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.