Employers Holdings, Inc. (NYSE:EIG – Get Free Report) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Wednesday, May 8th will be given 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 yield of 2.81%. The ex-dividend date is Tuesday, May 7th. This is a boost from Employers’s previous quarterly dividend of $0.28.
Employers has raised its dividend by an average of 3.2% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Employers has a dividend payout ratio of 33.1% 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 Down 1.1 %
Shares of EIG stock opened at $42.71 on Friday. Employers has a twelve month low of $35.43 and a twelve month high of $46.78. The company’s 50-day moving average price is $44.23 and its 200-day moving average price is $41.36. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 9.05 and a beta of 0.25.
Wall Street Analysts Forecast Growth
EIG has been the topic of several recent analyst reports. Truist Financial upped their price target on Employers from $53.00 to $55.00 and gave the company a “buy” rating in a research note 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.
Read Our Latest Report on Employers
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.
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