Employers (NYSE:EIG) Announces Earnings Results

Employers (NYSE:EIG) issued its quarterly earnings results on Thursday. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02), Briefing.com reports. The business had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $217.46 million. Employers had a return on equity of 10.65% and a net margin of 14.16%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share.

Employers Stock Up 1.1 %

Shares of Employers stock opened at $43.99 on Friday. The firm has a market capitalization of $1.11 billion, a P/E ratio of 9.32 and a beta of 0.24. Employers has a 52 week low of $35.43 and a 52 week high of $46.78. The firm’s 50 day moving average is $44.50 and its two-hundred day moving average is $41.26.

Employers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.73%. This is a positive change from Employers’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, May 7th. Employers’s dividend payout ratio is presently 23.73%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial upped 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 shares of Employers from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th.

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.