Employers Holdings Inc (NYSE:EIG)’s share price reached a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $47.55 and last traded at $47.60, with a volume of 33,259 shares trading hands. The stock had previously closed at $46.80.
The newly announced dividend which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. Employers Holdings’s payout ratio is currently 18.81%.
A number of research firms recently weighed in on EIG. Zacks Investment Research cut shares of Employers Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub cut shares of Employers Holdings from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Buckingham Research began coverage on shares of Employers Holdings in a research note on Monday, September 11th. They issued an “underperform” rating and a $36.00 target price on the stock. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $53.00 target price on shares of Employers Holdings in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.67.
The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 14.78 and a beta of 1.12. The firm’s 50 day moving average price is $44.72 and its 200-day moving average price is $42.26.
Employers Holdings (NYSE:EIG) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. Employers Holdings had a net margin of 13.32% and a return on equity of 10.39%. The business had revenue of $210.50 million for the quarter, compared to analyst estimates of $193.04 million. Equities analysts expect that Employers Holdings Inc will post $2.30 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in EIG. UBS Asset Management Americas Inc. increased its holdings in Employers Holdings by 87.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 13,842 shares of the financial services provider’s stock valued at $525,000 after buying an additional 6,443 shares during the period. Victory Capital Management Inc. increased its holdings in Employers Holdings by 25.3% in the 1st quarter. Victory Capital Management Inc. now owns 5,768 shares of the financial services provider’s stock valued at $219,000 after buying an additional 1,163 shares during the period. United Services Automobile Association bought a new position in Employers Holdings in the 1st quarter valued at about $602,000. OppenheimerFunds Inc. increased its holdings in Employers Holdings by 20.5% in the 1st quarter. OppenheimerFunds Inc. now owns 15,748 shares of the financial services provider’s stock valued at $597,000 after buying an additional 2,677 shares during the period. Finally, Teachers Advisors LLC increased its holdings in Employers Holdings by 2.6% in the 1st quarter. Teachers Advisors LLC now owns 55,050 shares of the financial services provider’s stock valued at $2,089,000 after buying an additional 1,376 shares during the period. 77.39% of the stock is currently owned by hedge funds and other institutional investors.
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About Employers Holdings
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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