Employers Holdings, Inc. (NYSE:EIG) announced a quarterly dividend on Wednesday, July 22nd, Zacks reports. Shareholders of record on Wednesday, August 5th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Tuesday, August 4th.
Employers has increased its dividend payment by an average of 144.4% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Employers has a dividend payout ratio of 83.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Employers to earn $1.75 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 57.1%.
EIG stock opened at $32.52 on Friday. The company’s fifty day moving average price is $30.39 and its 200-day moving average price is $34.85. Employers has a one year low of $25.53 and a one year high of $44.90. The company has a market capitalization of $951.89 million, a PE ratio of 11.49 and a beta of 0.14.
EIG has been the subject of several research analyst reports. Boenning Scattergood cut Employers from an “outperform” rating to a “neutral” rating in a report on Monday, April 27th. Zacks Investment Research raised shares of Employers from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a report on Friday, July 24th.
In other news, CEO Douglas D. Dirks purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average cost of $29.17 per share, with a total value of $175,020.00. Following the purchase, the chief executive officer now owns 474,347 shares in the company, valued at $13,836,701.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lawrence S. Rogers sold 1,360 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $29.38, for a total transaction of $39,956.80. Following the transaction, the senior vice president now owns 11,598 shares in the company, valued at $340,749.24. The disclosure for this sale can be found here. Insiders have acquired 9,500 shares of company stock worth $276,590 over the last three months. 2.90% of the stock is currently owned by insiders.
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; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.
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