Employers (NYSE:EIG) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Employers Holdings, Inc. (NYSE:EIG)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $48.36 and traded as high as $48.83. Employers shares last traded at $48.71, with a volume of 137,242 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EIG. Truist Financial upped their price target on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com downgraded shares of Employers from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

Employers Price Performance

The business has a fifty day moving average of $51.81 and a 200 day moving average of $48.36. The stock has a market cap of $1.20 billion, a PE ratio of 9.12 and a beta of 0.26.

Employers (NYSE:EIG) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $225.19 million. Employers had a return on equity of 9.78% and a net margin of 15.27%. On average, equities research analysts expect that Employers Holdings, Inc. will post 3.65 EPS for the current year.

Employers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.46%. Employers’s dividend payout ratio (DPR) is presently 22.47%.

Hedge Funds Weigh In On Employers

A number of hedge funds have recently bought and sold shares of EIG. Versant Capital Management Inc grew its position in shares of Employers by 50.1% in the 4th quarter. Versant Capital Management Inc now owns 596 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 199 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Employers by 45.5% in the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 358 shares during the period. FMR LLC increased its stake in Employers by 15.2% during the third quarter. FMR LLC now owns 1,520 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 200 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Employers in the 2nd quarter worth about $257,000. Finally, Intech Investment Management LLC acquired a new position in shares of Employers in the 2nd quarter valued at about $257,000. 80.49% of the stock is currently 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.