Employers (NYSE:EIG) Announces Earnings Results

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

Employers Trading Up 1.1 %

Shares of EIG traded up $0.50 during trading hours on Friday, hitting $44.01. 301,795 shares of the stock traded hands, compared to its average volume of 111,785. Employers has a 1-year low of $35.43 and a 1-year high of $46.78. The firm has a market capitalization of $1.12 billion, a PE ratio of 9.32 and a beta of 0.24. The business has a fifty day moving average of $44.50 and a 200-day moving average of $41.27.

Employers Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Janney Montgomery Scott cut Employers from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 27th. Truist Financial boosted their price objective on Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th.

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.