Employers (NYSE:EIG) Cut to “Hold” at StockNews.com

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

Separately, Truist Financial raised their price objective on shares of Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, November 1st.

Employers Stock Up 0.6 %

Shares of Employers stock opened at $52.72 on Wednesday. Employers has a 12-month low of $38.21 and a 12-month high of $54.44. The firm has a market capitalization of $1.30 billion, a PE ratio of 9.87 and a beta of 0.26. The stock’s fifty day moving average is $51.01 and its 200-day moving average is $47.17.

Employers (NYSE:EIG) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. Employers had a return on equity of 9.78% and a net margin of 15.27%. The firm had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. Analysts expect that Employers will post 3.65 EPS for the current year.

Employers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.28%. Employers’s payout ratio is presently 22.47%.

Hedge Funds Weigh In On Employers

A number of large investors have recently made changes to their positions in EIG. Price T Rowe Associates Inc. MD boosted its holdings in shares of Employers by 12.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,334 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 834 shares during the period. Ellsworth Advisors LLC grew its holdings in shares of Employers by 7.6% during the 2nd quarter. Ellsworth Advisors LLC now owns 11,620 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 818 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Employers in the second quarter worth $81,000. Isthmus Partners LLC raised its holdings in shares of Employers by 0.5% during the second quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 375 shares in the last quarter. Finally, LSV Asset Management boosted its position in Employers by 33.5% during the second quarter. LSV Asset Management now owns 1,066,245 shares of the financial services provider’s stock valued at $45,454,000 after purchasing an additional 267,419 shares during the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.

About Employers

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.