Employers Holdings, Inc. (NYSE:EIG) announced a quarterly dividend on Wednesday, July 22nd, Zacks reports. Shareholders of record on Wednesday, August 5th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, August 19th. This represents a $1.00 annualized dividend and a yield of 3.08%. The ex-dividend date is Tuesday, August 4th.
Employers has raised its dividend payment by an average of 144.4% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Employers has a payout ratio of 83.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Employers to earn $1.75 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 57.1%.
NYSE EIG opened at $32.52 on Friday. The firm has a market capitalization of $951.89 million, a P/E ratio of 11.49 and a beta of 0.14. The stock has a 50-day simple moving average of $30.39 and a two-hundred day simple moving average of $34.85. Employers has a fifty-two week low of $25.53 and a fifty-two week high of $44.90.
Employers (NYSE:EIG) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.27 by $0.58. Employers had a return on equity of 7.12% and a net margin of 11.30%. The firm had revenue of $211.40 million for the quarter, compared to analyst estimates of $164.18 million. Sell-side analysts expect that Employers will post 1.68 earnings per share for the current year.
In related news, SVP Lawrence S. Rogers sold 1,360 shares of Employers stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $29.38, for a total value of $39,956.80. Following the sale, the senior vice president now directly owns 11,598 shares in the company, valued at approximately $340,749.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael J. Mcsally acquired 3,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $29.54 per share, with a total value of $88,620.00. Following the completion of the purchase, the director now owns 13,277 shares in the company, valued at approximately $392,202.58. The disclosure for this purchase can be found here. Insiders purchased a total of 9,500 shares of company stock worth $276,590 in the last three months. 2.90% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on the stock. Boenning Scattergood downgraded shares of Employers from an “outperform” rating to a “neutral” rating in a research report on Monday, April 27th. Zacks Investment Research raised Employers from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a report on Friday, July 24th.
Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.
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