Employers (NYSE:EIG) Price Target Raised to $58.00 at Truist Financial

Employers (NYSE:EIG) had its target price raised by Truist Financial from $55.00 to $58.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Separately, JMP Securities upgraded Employers to a “hold” rating in a research note on Thursday, August 1st.

Employers Stock Down 0.0 %

Shares of EIG opened at $47.80 on Friday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 8.95 and a beta of 0.24. The business’s 50 day moving average is $47.96 and its two-hundred day moving average is $45.18. Employers has a 52-week low of $37.33 and a 52-week high of $50.00.

Employers (NYSE:EIG) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. The firm had revenue of $224.00 million for the quarter, compared to analysts’ expectations of $225.19 million. Employers had a net margin of 15.27% and a return on equity of 9.78%. On average, equities analysts expect that Employers will post 3.63 earnings per share for the current fiscal year.

Employers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 2.51%. Employers’s payout ratio is 22.47%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EIG. Isthmus Partners LLC lifted its stake in Employers by 0.5% in the second quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock valued at $35,000 after buying an additional 375 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Employers during the 1st quarter valued at about $36,000. Bessemer Group Inc. grew its position in Employers by 983.8% in the 1st quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,033 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Employers by 45.5% in the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 358 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Employers in the second quarter valued at approximately $81,000. 80.49% of the stock is owned by institutional investors and hedge funds.

Employers Company Profile

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.