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

Employers Holdings, Inc. (NYSE:EIG) declared a quarterly dividend on Thursday, April 25th, 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 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, May 7th. This is an increase from Employers’s previous quarterly dividend of $0.28.

Employers has increased its dividend payment by an average of 3.2% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Employers has a dividend payout ratio of 30.0% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 1.1 %

NYSE:EIG traded up $0.50 during trading hours on Friday, hitting $44.01. 301,795 shares of the company were exchanged, compared to its average volume of 111,785. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.32 and a beta of 0.24. Employers has a one year low of $35.43 and a one year high of $46.78. The company has a fifty day simple moving average of $44.50 and a 200 day simple moving average of $41.26.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on EIG shares. Truist Financial boosted their price target on shares of Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Janney Montgomery Scott cut shares of Employers from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 27th.

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.