Employers (NYSE:EIG) Upgraded to Buy at StockNews.com

Employers (NYSE:EIG) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Other equities analysts have also issued research reports about the company. Truist Financial raised their price target on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Friday. JMP Securities upgraded Employers to a “hold” rating in a research note on Thursday, August 1st.

Employers Stock Performance

EIG stock traded down $0.01 during midday trading on Monday, reaching $47.80. The company’s stock had a trading volume of 96,485 shares, compared to its average volume of 129,820. The stock has a fifty day simple moving average of $47.96 and a two-hundred day simple moving average of $45.18. Employers has a 1 year low of $37.33 and a 1 year high of $50.00. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 8.95 and a beta of 0.24.

Employers (NYSE:EIG) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Employers had a return on equity of 9.78% and a net margin of 15.27%. The business had revenue of $224.00 million for the quarter, compared to analyst estimates of $225.19 million. As a group, analysts forecast that Employers will post 3.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Employers

Several institutional investors and hedge funds have recently added to or reduced their stakes in EIG. BNP Paribas Financial Markets grew its stake in Employers by 81.2% in the first quarter. BNP Paribas Financial Markets now owns 13,171 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 5,903 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Employers in the first quarter valued at about $201,000. Texas Permanent School Fund Corp grew its stake in Employers by 1.3% in 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 during the last quarter. LSV Asset Management grew its stake in Employers by 58.9% in the first quarter. LSV Asset Management now owns 798,826 shares of the financial services provider’s stock valued at $36,259,000 after purchasing an additional 295,983 shares during the last quarter. Finally, Inspire Advisors LLC grew its stake in Employers by 32.8% in the first quarter. Inspire Advisors LLC now owns 27,953 shares of the financial services provider’s stock valued at $1,269,000 after purchasing an additional 6,905 shares during the last quarter. Hedge funds and other institutional investors own 80.49% of the company’s stock.

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.