Employers Holdings Inc (NYSE:EIG) Declares $0.32 Quarterly Dividend

Employers Holdings Inc (NYSE:EIG) declared a quarterly dividend on Thursday, February 19th. Stockholders of record on Wednesday, March 4th will be paid a dividend of 0.32 per share by the financial services provider on Wednesday, March 18th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, March 4th.

Employers has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. Employers has a dividend payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Employers to earn $3.45 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 37.1%.

Employers Stock Down 10.7%

Shares of NYSE:EIG traded down $4.52 during midday trading on Friday, reaching $37.93. 156,342 shares of the company traded hands, compared to its average volume of 256,006. The firm’s fifty day moving average price is $43.68 and its two-hundred day moving average price is $42.01. The firm has a market capitalization of $852.64 million, a price-to-earnings ratio of 14.99 and a beta of 0.57. Employers has a 12 month low of $35.73 and a 12 month high of $52.28.

Employers (NYSE:EIG) last posted its earnings results on Thursday, February 19th. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.25. Employers had a return on equity of 3.38% and a net margin of 6.91%.The business had revenue of $170.50 million during the quarter, compared to analyst estimates of $217.35 million. During the same quarter in the previous year, the firm earned $1.15 EPS. The company’s quarterly revenue was down 21.3% compared to the same quarter last year. Analysts forecast that Employers will post 3.63 earnings per share for the current year.

Hedge Funds Weigh In On Employers

Hedge funds and other institutional investors have recently modified their holdings of the company. Clearstead Advisors LLC lifted its position in Employers by 145.5% in the 4th quarter. Clearstead Advisors LLC now owns 621 shares of the financial services provider’s stock worth $27,000 after buying an additional 368 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Employers by 133.5% in the 2nd quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 363 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Employers in the 2nd quarter valued at $39,000. GAMMA Investing LLC grew its holdings in shares of Employers by 35.7% during the 4th quarter. GAMMA Investing LLC now owns 1,561 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 411 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Employers by 230.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,981 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 1,381 shares during the period. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

About Employers

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.