Employers (NYSE:EIG) Cut to Hold at StockNews.com

StockNews.com lowered shares of Employers (NYSE:EIG) from a buy rating to a hold rating in a research note released on Friday.

Separately, Truist Financial raised their target price on shares of Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st.

Employers Price Performance

Shares of NYSE EIG opened at $50.81 on Friday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 9.51 and a beta of 0.26. The stock’s fifty day moving average price is $51.31 and its two-hundred day moving average price is $47.60. Employers has a one year low of $38.38 and a one year high of $54.44.

Employers (NYSE:EIG) last released its quarterly 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. Employers had a net margin of 15.27% and a return on equity of 9.78%. The business had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. On average, equities analysts anticipate that Employers will post 3.65 earnings per share for the current fiscal year.

Employers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 2.36%. Employers’s dividend payout ratio is 22.47%.

Hedge Funds Weigh In On Employers

Hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Employers by 15.2% during the 3rd quarter. FMR LLC now owns 1,520 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 200 shares during the period. HighTower Advisors LLC lifted its stake in Employers by 1.6% during the third quarter. HighTower Advisors LLC now owns 14,723 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 227 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Employers by 4.3% in the 2nd quarter. Inspire Investing LLC now owns 8,225 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 336 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Employers by 45.5% in the 3rd 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 last quarter. Finally, Isthmus Partners LLC raised its holdings in shares of Employers by 0.5% during the 2nd quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock worth $35,000 after buying an additional 375 shares in the last quarter. 80.49% of the stock is owned by institutional investors.

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.