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

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

Employers has raised its dividend payment 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 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 Stock Up 0.2 %

Employers stock traded up $0.11 during mid-day trading on Friday, hitting $48.83. 2,375 shares of the company’s stock were exchanged, compared to its average volume of 129,573. The company’s 50 day simple moving average is $47.94 and its 200-day simple moving average is $45.08. Employers has a fifty-two week low of $37.33 and a fifty-two week high of $50.00. The firm has a market capitalization of $1.21 billion, a P/E ratio of 9.13 and a beta of 0.24.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Friday. JMP Securities upgraded shares of Employers to a “hold” rating in a 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.