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

Employers (NYSE:EIG) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other research firms have also recently commented on EIG. JMP Securities upgraded Employers to a “hold” rating in a research note on Thursday, August 1st. Truist Financial increased their target price on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, November 1st.

Employers Stock Up 0.5 %

EIG opened at $53.32 on Tuesday. The firm’s 50 day moving average is $48.62 and its 200-day moving average is $45.59. Employers has a 52-week low of $37.40 and a 52-week high of $54.44. The firm has a market capitalization of $1.32 billion, a P/E ratio of 9.99 and a beta of 0.24.

Employers (NYSE:EIG) last released its quarterly earnings results 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. The firm had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. Employers had a net margin of 15.27% and a return on equity of 9.78%. Equities analysts expect that Employers will post 3.63 earnings per share for the current fiscal year.

Institutional Trading of Employers

Several hedge funds and other institutional investors have recently bought and sold shares of EIG. FMR LLC grew its position in shares of Employers by 15.2% in the 3rd quarter. FMR LLC now owns 1,520 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 200 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings 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 worth $1,022,000 after purchasing an additional 292 shares during the period. Inspire Investing LLC increased its stake in Employers by 4.3% during the second quarter. Inspire Investing LLC now owns 8,225 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 336 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Employers by 45.5% during the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 358 shares during the period. Finally, Isthmus Partners LLC lifted its position in shares of Employers by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock worth $35,000 after buying an additional 375 shares during the last quarter. 80.49% of the stock is owned by institutional investors.

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.