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

Employers Holdings, Inc. (NYSE:EIG) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Tuesday, May 7th. This is an increase 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 raised its dividend annually for the last 3 consecutive years. Employers has a payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Employers to earn $3.63 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 33.1%.

Employers Stock Performance

Employers stock opened at $42.71 on Friday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 9.05 and a beta of 0.25. Employers has a 1 year low of $35.43 and a 1 year high of $46.78. The firm has a 50 day moving average price of $44.23 and a 200 day moving average price of $41.36.

Employers (NYSE:EIG) last announced its quarterly earnings data 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 company had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $217.46 million. Employers had a net margin of 14.16% and a return on equity of 10.49%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Sell-side analysts predict that Employers will post 3.65 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on EIG shares. Truist Financial upped their price target on Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Janney Montgomery Scott lowered shares of Employers from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th.

About Employers

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.