ValuEngine Lowers Employers (EIG) to Buy

ValuEngine downgraded shares of Employers (NYSE:EIG) from a strong-buy rating to a buy rating in a report released on Friday morning.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Employers from a hold rating to a buy rating and set a $53.00 price objective on the stock in a research report on Monday, October 30th. SunTrust Banks reissued a buy rating and set a $53.00 price objective on shares of Employers in a research report on Friday, October 27th. Finally, Buckingham Research assumed coverage on shares of Employers in a research report on Monday, September 11th. They set an underperform rating and a $36.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Employers has an average rating of Hold and an average target price of $47.33.

Employers (EIG) traded down $0.30 during mid-day trading on Friday, hitting $48.70. 74,500 shares of the stock were exchanged, compared to its average volume of 100,963. The company has a market cap of $1,579.37, a PE ratio of 17.58 and a beta of 1.13. Employers has a one year low of $34.88 and a one year high of $50.45.

Employers (NYSE:EIG) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.08. The company had revenue of $210.50 million for the quarter, compared to analysts’ expectations of $193.04 million. Employers had a net margin of 13.32% and a return on equity of 10.39%. research analysts anticipate that Employers will post 2.39 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. Employers’s dividend payout ratio (DPR) is presently 18.81%.

In related news, CEO Douglas D. Dirks sold 58,300 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $49.55, for a total value of $2,888,765.00. Following the transaction, the chief executive officer now owns 331,145 shares of the company’s stock, valued at approximately $16,408,234.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System lifted its position in Employers by 8.5% in the 3rd quarter. California Public Employees Retirement System now owns 75,097 shares of the financial services provider’s stock valued at $3,413,000 after acquiring an additional 5,897 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Employers in the 3rd quarter valued at about $399,000. Allianz Asset Management GmbH lifted its position in Employers by 10.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 39,960 shares of the financial services provider’s stock valued at $1,817,000 after acquiring an additional 3,883 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Employers by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,469,965 shares of the financial services provider’s stock valued at $112,260,000 after acquiring an additional 27,384 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Employers by 2.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 227,465 shares of the financial services provider’s stock valued at $10,339,000 after acquiring an additional 5,837 shares in the last quarter. 77.40% of the stock is currently owned by institutional investors and hedge funds.

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Employers Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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