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

Employers Holdings, Inc. (NYSE:EIG) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, March 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Wednesday, March 5th.

Employers has raised its dividend by an average of 5.7% annually over the last three years. Employers has a payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 0.3 %

Shares of NYSE EIG traded up $0.16 during trading on Friday, reaching $48.97. 198,080 shares of the company traded hands, compared to its average volume of 127,246. The firm’s fifty day simple moving average is $49.79 and its 200 day simple moving average is $49.36. The stock has a market cap of $1.21 billion, a P/E ratio of 9.17 and a beta of 0.27. Employers has a 12-month low of $38.67 and a 12-month high of $54.44.

Employers (NYSE:EIG) last released its quarterly earnings data on Thursday, February 20th. The financial services provider reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.07. Employers had a return on equity of 9.78% and a net margin of 15.27%. The business had revenue of $216.60 million during the quarter, compared to analyst estimates of $221.18 million. As a group, research analysts expect that Employers will post 3.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EIG shares. StockNews.com cut Employers from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Truist Financial raised their target price on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, November 1st.

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.