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

Employers Holdings, Inc. (NYSE:EIG) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, November 27th. This represents a $1.20 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, November 13th.

Employers has increased its dividend by an average of 3.2% per year over the last three years. Employers has a payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Employers to earn $3.58 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 33.5%.

Employers Price Performance

Shares of NYSE EIG traded up $0.11 during midday trading on Friday, reaching $48.83. The company’s stock had a trading volume of 2,375 shares, compared to its average volume of 129,573. The stock has a market capitalization of $1.21 billion, a P/E ratio of 9.13 and a beta of 0.24. The firm has a 50 day moving average price of $47.94 and a 200-day moving average price of $45.08. Employers has a 12-month low of $37.33 and a 12-month high of $50.00.

Employers (NYSE:EIG) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $224.00 million for the quarter, compared to analysts’ expectations of $225.19 million. Employers had a net margin of 15.27% and a return on equity of 9.96%. On average, equities analysts predict that Employers will post 3.63 EPS for the current year.

Wall Street Analyst Weigh In

EIG has been the subject of several research analyst reports. Truist Financial lifted their price objective on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Friday. JMP Securities upgraded Employers to a “hold” rating in a research report on Thursday, August 1st.

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.