Employers Holdings, Inc. (NYSE:EIG – Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Wednesday, May 8th will be paid a dividend of 0.30 per share by the financial services provider on Wednesday, May 22nd. This represents a $1.20 annualized dividend and a yield of 2.73%. The ex-dividend date is Tuesday, May 7th. This is an increase from Employers’s previous quarterly dividend of $0.28.
Employers has raised its dividend payment by an average of 3.2% annually over the last three years and has raised its dividend every year for the last 2 years. Employers has a payout ratio of 30.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Employers to earn $3.70 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 30.3%.
Employers Price Performance
EIG stock traded up $0.50 on Friday, reaching $44.01. 301,795 shares of the company were exchanged, compared to its average volume of 111,785. Employers has a 12 month low of $35.43 and a 12 month high of $46.78. The stock’s fifty day moving average price is $44.50 and its 200 day moving average price is $41.26. The firm has a market capitalization of $1.12 billion, a PE ratio of 9.32 and a beta of 0.24.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Truist Financial boosted their target price on shares of Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Janney Montgomery Scott lowered Employers from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 27th.
Read Our Latest Analysis on EIG
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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