According to Zacks, “Employers Holdings, Inc. is a specialty provider of workers compensation insurance focused on select small businesses engaged in low to medium hazard industries. It markets its products through independent local, regional, and national agents and brokers, as well as through its strategic partnerships and alliances and relationships with national, regional, and local trade groups and associations. Employers Holdings, Inc. is headquartered in Reno, Nevada. “
Several other research firms also recently weighed in on EIG. TheStreet downgraded shares of Employers from a “b-” rating to a “c+” rating in a research report on Friday, March 27th. Boenning Scattergood lowered shares of Employers from an “outperform” rating to a “neutral” rating in a report on Monday, April 27th. Finally, SunTrust Banks reduced their target price on Employers from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st.
Employers (NYSE:EIG) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.18). Employers had a return on equity of 7.47% and a net margin of 8.99%. The business had revenue of $188.10 million during the quarter, compared to analyst estimates of $184.79 million. During the same period in the prior year, the business posted $0.94 EPS. Research analysts forecast that Employers will post 1.15 earnings per share for the current fiscal year.
In other Employers news, SVP Lawrence S. Rogers sold 1,360 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $29.38, for a total transaction of $39,956.80. Following the sale, the senior vice president now directly owns 11,598 shares of the company’s stock, valued at approximately $340,749.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Mcsally purchased 3,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were bought at an average cost of $29.54 per share, for a total transaction of $88,620.00. Following the completion of the transaction, the director now directly owns 13,277 shares in the company, valued at approximately $392,202.58. The disclosure for this purchase can be found here. Insiders have acquired a total of 30,310 shares of company stock valued at $890,371 over the last three months. 2.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of EIG. State Street Corp lifted its stake in shares of Employers by 8.9% in the 1st quarter. State Street Corp now owns 1,087,905 shares of the financial services provider’s stock valued at $44,071,000 after purchasing an additional 88,564 shares during the period. Royal Bank of Canada grew its position in Employers by 15.9% during the first quarter. Royal Bank of Canada now owns 96,000 shares of the financial services provider’s stock valued at $3,888,000 after buying an additional 13,188 shares during the period. Advisor Group Holdings Inc. purchased a new position in Employers in the first quarter valued at $29,000. Meeder Asset Management Inc. raised its position in shares of Employers by 1,477.7% in the first quarter. Meeder Asset Management Inc. now owns 15,887 shares of the financial services provider’s stock worth $643,000 after acquiring an additional 14,880 shares during the period. Finally, Paloma Partners Management Co boosted its stake in shares of Employers by 15.1% during the 1st quarter. Paloma Partners Management Co now owns 10,422 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 1,367 shares in the last quarter. 80.87% 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. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.
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