Employers
Specialist in workers' compensation coverage for lower-hazard small and mid-sized businesses.
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Profile
Writes workers' compensation insurance and related services for lower-hazard small and mid-sized employers. The business centers on guaranteed-cost coverage, Cerity direct sales, and excess coverage for self-insured enterprises, with state rules and California concentration shaping the book.
Guaranteed-cost workers' compensation is the core line, sold through insurance subsidiaries under the EMPLOYERS brand and supported by claims, loss-control, and risk-management services. Cerity adds a direct digital channel, while excess workers' compensation extends the portfolio to self-insured enterprises.
The footprint spans most U.S. states but excludes markets served only by state funds. California is the largest concentration, so state pricing, claims costs, and regulatory conditions shape the book.
Execution centers on small and mid-sized employers in lower-hazard industries, where agency access, service reliability, financial ratings, and claims payment speed drive competition. The company reports one segment, Insurance Operations.
Company facts
Key statistics
Year to date +14.9% · Average volume (30d) 171.1K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.57 | $0.70 | +23.2% | $203.5M | $220.2M | +8.2% | +3.72% |
| Apr 29, 2026Q1 FY26 | $0.55 | $0.53 | −3.3% | $213.0M | $207.6M | −2.6% | −1.52% |
| Feb 19, 2026Q4 FY25 | $0.41 | $0.66 | +61.0% | $216.5M | $170.5M | −21.2% | −7.70% |
| Oct 30, 2025Q3 FY25 | $0.61 | −$1.10 | −280.3% | $217.3M | $239.3M | +10.1% | −6.38% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $202.6M | $246.3M | $239.3M | $170.2M | $207.6M | $220.2M | |
| Gross profit | $58.9M | $80.1M | $29.7M | $107.7M | $78.5M | $97.9M | |
| Operating income | $15.9M | $37.0M | −$11.2M | −$29.7M | $12.8M | $34.7M | |
| Net income | $12.8M | $29.7M | −$8.3M | −$23.4M | $10.2M | $29.1M | |
| Diluted EPS | $0.52 | $1.23 | −$0.36 | −$0.97 | $0.42 | $1.59 | |
| Gross margin | 29.1% | 32.5% | 12.4% | 63.3% | 37.8% | 44.5% | |
| Operating margin | 7.8% | 15.0% | -4.7% | -17.5% | 6.2% | 15.8% |
Fiscal years (4-quarter sums)FY21 $703.1M · FY22 $713.5M · FY23 $850.9M · FY24 $880.7M · FY25 $858.4M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.12B · Total debt $128.6M · Total assets $3.38B · Shareholders' equity $858.8M
Dividends
Raised for 17 straight years — most recently to $0.34 from $0.32 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 12, 2026 | Aug 12 | Aug 26 | $0.34 | |
| May 13, 2026 | May 13 | May 27 | $0.34 | raised from $0.32 |
| Mar 4, 2026 | Mar 4 | Mar 18 | $0.32 | |
| Nov 12, 2025 | Nov 12 | Nov 26 | $0.32 | |
| Aug 13, 2025 | Aug 13 | Aug 27 | $0.32 | |
| May 14, 2025 | May 14 | May 28 | $0.32 | raised from $0.30 |
| Mar 5, 2025 | Mar 5 | Mar 19 | $0.30 | |
| Nov 13, 2024 | Nov 13 | Nov 27 | $0.30 |
Ownership
Shares outstanding 20.67M · Float 17.55M · 84.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 2.58M | 12.48% | 13F | Aug 7, 2026 |
| Dimensional Fund Advisors LP | 1.49M | 7.22% | 13F | Aug 11, 2026 |
| State Street Corp | 814.5K | 3.94% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 797.8K | 3.86% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 788.9K | 3.82% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 9, 2026 | Ann Marie Smith | officer: Chief Actuarial and UW Officer | −5,000 | $39.29 |
| Mar 10, 2026 | Christina M. Ozuna | officer: Chief Claims Officer | −4,500 | $39.88 |
| Feb 24, 2026 | Michael Pedraja | officer: EVP, Chief Financial Officer | +2,000 | $39.73 |
| Nov 4, 2025 | Michael Pedraja | officer: EVP, Chief Financial Officer | +5,500 | $37.09 |
Peers
- The Hartford
Small-business P&C scale with a large workers' comp book
- Travelers
National small-commercial and workers' comp scale
- AMERISAFE
Public workers' comp specialist in higher-hazard SMB classes
- W. R. Berkley
Specialty commercial carrier with workers' comp platforms
- Chubb
Global P&C carrier with small-commercial workers' comp
- Selective Insurance Group
Agency-distributed commercial lines with workers' comp exposure
- C.N.A. Financial
Commercial P&C carrier with casualty workers' comp exposure
- Old Republic International
Specialty insurer with a sizable workers' comp book
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Employers | $49.17 | −0.08% | $1.02B | 72.3 | 20.3 | 1.2 | −10.6% |
| The Hartford | $137.85 | −0.49% | $37.98B | 9.0 | 10.6 | 1.3 | +4.0% |
| Travelers | $372.15 | +0.62% | $77.15B | 9.9 | 12.4 | 1.6 | −4.8% |
| AMERISAFE | $26.25 | +0.11% | $491.0M | 10.6 | 13.6 | 1.5 | +6.0% |
| W. R. Berkley | $70.65 | +3.20% | $25.48B | 14.1 | 14.5 | 1.4 | +1.2% |
| Chubb | $340.37 | +0.13% | $131.14B | 12.0 | 12.2 | 2.1 | −1.3% |
| Selective Insurance Group | $92.46 | −0.08% | $5.51B | 11.5 | 10.9 | 1.0 | −8.0% |
| C.N.A. Financial | $49.31 | +0.02% | $13.34B | 10.8 | 10.6 | 0.9 | +3.0% |
| Old Republic International | $42.07 | 0.00% | $10.25B | 9.2 | 13.1 | 1.1 | +13.4% |
| Median | 10.7 | 12.3 | 1.4 | +2.1% |