Employers (NYSE:EIG) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Employers Holdings Inc (NYSE:EIG) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $41.68 and traded as high as $44.02. Employers shares last traded at $43.6250, with a volume of 247,595 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EIG shares. Wall Street Zen upgraded Employers from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research downgraded Employers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Employers Stock Up 0.4%

The company has a market cap of $801.01 million, a PE ratio of 133.08 and a beta of 0.48. The business has a 50-day simple moving average of $41.57 and a 200-day simple moving average of $41.73. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.14.

Employers (NYSE:EIG) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $207.60 million for the quarter, compared to analysts’ expectations of $213.04 million. Employers had a return on equity of 1.10% and a net margin of 0.95%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 EPS. Equities research analysts anticipate that Employers Holdings Inc will post 2.22 EPS for the current year.

Employers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This is an increase from Employers’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.1%. Employers’s payout ratio is currently 412.12%.

Insider Buying and Selling at Employers

In other news, EVP Michael Pedraja bought 2,000 shares of Employers stock in a transaction on Tuesday, February 24th. The stock was acquired at an average price of $39.73 per share, with a total value of $79,460.00. Following the completion of the acquisition, the executive vice president directly owned 19,830 shares of the company’s stock, valued at $787,845.90. The trade was a 11.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ann Marie Smith sold 5,000 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $39.29, for a total value of $196,450.00. Following the transaction, the insider directly owned 8,704 shares of the company’s stock, valued at $341,980.16. The trade was a 36.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Employers

Hedge funds have recently made changes to their positions in the company. Clearstead Advisors LLC raised its holdings in shares of Employers by 145.5% during the fourth quarter. Clearstead Advisors LLC now owns 621 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 368 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Employers by 133.5% in the second quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 363 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Employers by 227.1% in the first quarter. Bessemer Group Inc. now owns 651 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 452 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Employers by 35.7% in the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 411 shares during the last quarter. Finally, Danske Bank A S increased its holdings in shares of Employers by 425.0% in the fourth quarter. Danske Bank A S now owns 2,100 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.

Employers Company Profile

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.