Employers (NYSE:EIG) Lowered to “Hold” Rating by StockNews.com

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

Several other equities research analysts also recently weighed in on the company. Truist Financial increased 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. JMP Securities upgraded Employers to a “hold” rating in a research report on Thursday, August 1st.

Employers Stock Down 0.9 %

NYSE EIG opened at $53.40 on Tuesday. Employers has a 52 week low of $37.33 and a 52 week high of $54.44. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 10.00 and a beta of 0.24. The company has a fifty day moving average of $48.54 and a two-hundred day moving average of $45.54.

Employers (NYSE:EIG) last issued 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 company had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. Equities research analysts anticipate that Employers will post 3.63 EPS for the current year.

Employers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Wednesday, November 13th. Employers’s dividend payout ratio is presently 22.47%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EIG. Texas Permanent School Fund Corp boosted its stake in shares of Employers by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 22,511 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 292 shares in the last quarter. Inspire Investing LLC increased 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 acquiring an additional 336 shares during the period. GAMMA Investing LLC raised its position 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 worth $55,000 after acquiring an additional 358 shares in the last quarter. Isthmus Partners LLC boosted its position in Employers by 0.5% during the second quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 375 shares in the last quarter. Finally, Ellsworth Advisors LLC raised its holdings in Employers by 6.0% in the third quarter. Ellsworth Advisors LLC now owns 12,312 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 692 shares in the last quarter. 80.49% of the stock is currently owned by hedge funds and other 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.