Zacks Investment Research upgraded shares of Employers Holdings Inc (NYSE:EIG) from a hold rating to a buy rating in a research note released on Wednesday, August 30th. They currently have $47.00 price target on the financial services provider’s stock.
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. “
Other research analysts have also issued reports about the company. BidaskClub lowered Employers Holdings from a strong-buy rating to a buy rating in a research report on Thursday, June 22nd. ValuEngine raised Employers Holdings from a hold rating to a buy rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $41.00.
Shares of Employers Holdings (NYSE EIG) traded up 1.47% during midday trading on Wednesday, reaching $41.30. 199,434 shares of the company traded hands. The stock’s 50-day moving average is $41.98 and its 200-day moving average is $40.57. The stock has a market capitalization of $1.34 billion, a P/E ratio of 12.79 and a beta of 1.10. Employers Holdings has a 1-year low of $28.81 and a 1-year high of $44.55.
Employers Holdings (NYSE:EIG) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. Employers Holdings had a return on equity of 10.25% and a net margin of 13.72%. The company had revenue of $191.10 million for the quarter, compared to analyst estimates of $194.78 million. Equities analysts predict that Employers Holdings will post $2.27 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Monday, August 7th. Employers Holdings’s dividend payout ratio is 18.63%.
Several hedge funds and other institutional investors have recently modified their holdings of EIG. Louisiana State Employees Retirement System increased its holdings in shares of Employers Holdings by 1.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the financial services provider’s stock valued at $497,000 after acquiring an additional 200 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Employers Holdings by 1.1% during the 1st quarter. State of Alaska Department of Revenue now owns 3,550 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 40 shares during the period. Russell Investments Group Ltd. boosted its stake in Employers Holdings by 31.0% during the 1st quarter. Russell Investments Group Ltd. now owns 30,744 shares of the financial services provider’s stock valued at $1,166,000 after purchasing an additional 7,270 shares during the period. Great West Life Assurance Co. Can boosted its stake in Employers Holdings by 7.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 47,395 shares of the financial services provider’s stock valued at $1,796,000 after purchasing an additional 3,318 shares during the period. Finally, Advisors Preferred LLC bought a new stake in Employers Holdings during the 1st quarter valued at approximately $214,000. 77.33% of the stock is currently owned by institutional investors and hedge funds.
About Employers Holdings
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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