Employers (NYSE:EIG) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Employers Holdings, Inc. (NYSE:EIG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $48.36 and traded as high as $48.83. Employers shares last traded at $48.71, with a volume of 137,242 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EIG shares. Truist Financial lifted their price target on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com downgraded shares of Employers from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

Employers Price Performance

The business has a fifty day moving average of $51.80 and a 200-day moving average of $48.40. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 8.90 and a beta of 0.27.

Employers (NYSE:EIG) last posted 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. Employers had a net margin of 15.27% and a return on equity of 9.78%. The firm had revenue of $224.00 million for the quarter, compared to analyst estimates of $225.19 million. As a group, research analysts anticipate that Employers Holdings, Inc. will post 3.65 EPS for the current year.

Employers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.30 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%. Employers’s payout ratio is currently 22.47%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Barclays PLC increased its stake in shares of Employers by 300.2% in the third quarter. Barclays PLC now owns 41,501 shares of the financial services provider’s stock worth $1,991,000 after purchasing an additional 31,131 shares during the period. MML Investors Services LLC lifted its holdings in shares of Employers by 27.0% during the third quarter. MML Investors Services LLC now owns 6,806 shares of the financial services provider’s stock worth $326,000 after buying an additional 1,448 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Employers by 1.6% in the third quarter. HighTower Advisors LLC now owns 14,723 shares of the financial services provider’s stock valued at $708,000 after acquiring an additional 227 shares during the period. Jane Street Group LLC grew its stake in shares of Employers by 22.9% in the third quarter. Jane Street Group LLC now owns 48,982 shares of the financial services provider’s stock worth $2,350,000 after acquiring an additional 9,138 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Employers by 30.1% during the third quarter. BNP Paribas Financial Markets now owns 7,371 shares of the financial services provider’s stock worth $354,000 after acquiring an additional 1,707 shares during the period. 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.