Employers Holdings, Inc. (NYSE:EIG) to Issue Dividend Increase – $0.30 Per Share

Employers Holdings, Inc. (NYSE:EIG) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Wednesday, May 8th will be paid 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 increased its dividend by an average of 3.2% annually 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. 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 Trading Up 1.1 %

Shares of Employers stock traded up $0.50 during midday trading on Friday, reaching $44.01. The company had a trading volume of 301,795 shares, compared to its average volume of 111,785. The stock 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 company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.32 and a beta of 0.24.

Employers (NYSE:EIG) last posted 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 during the quarter, compared to the consensus estimate of $217.46 million. Employers had a net margin of 14.16% and a return on equity of 10.65%. Employers’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. Sell-side analysts expect that Employers will post 3.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EIG shares. Janney Montgomery Scott cut Employers from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. Truist Financial raised their target price on Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a report 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.