Employers Holdings, Inc. (NYSE:EIG) declared a quarterly dividend on Thursday, October 25th, Wall Street Journal reports. Shareholders of record on Wednesday, November 7th will be paid a dividend of 0.20 per share by the financial services provider on Wednesday, November 21st. This represents a $0.80 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, November 6th.
Employers has raised its dividend payment by an average of 35.7% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Employers has a payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Employers to earn $2.67 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 30.0%.
Shares of NYSE EIG opened at $45.82 on Monday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 15.85 and a beta of 0.90. Employers has a 12 month low of $38.35 and a 12 month high of $50.45.
Employers (NYSE:EIG) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.41. The firm had revenue of $228.90 million during the quarter, compared to the consensus estimate of $205.48 million. Employers had a return on equity of 13.43% and a net margin of 17.89%. Sell-side analysts forecast that Employers will post 3.49 EPS for the current year.
Several analysts have recently weighed in on EIG shares. Zacks Investment Research cut Employers from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Boenning Scattergood upgraded Employers from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a report on Thursday, October 25th.
In related news, COO Stephen V. Festa sold 2,268 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $47.00, for a total value of $106,596.00. Following the sale, the chief operating officer now directly owns 18,634 shares in the company, valued at $875,798. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lenard T. Ormsby sold 2,904 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $43.00, for a total value of $124,872.00. Following the completion of the sale, the executive vice president now owns 19,777 shares in the company, valued at $850,411. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,172 shares of company stock worth $417,948. Company insiders own 3.00% of the company’s stock.
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; and alternative distribution channels comprising its partners, as well as through national, regional, and local trade groups and associations.
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