Employers (NYSE:EIG) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Employers (NYSE:EIG) from a buy rating to a hold rating in a research report released on Tuesday morning.

A number of other brokerages also recently commented on EIG. Truist Financial upped their target price on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JMP Securities upgraded Employers to a “hold” rating in a research report on Thursday, August 1st.

Employers Stock Performance

Shares of EIG stock opened at $52.96 on Tuesday. Employers has a fifty-two week low of $37.40 and a fifty-two week high of $54.44. The firm has a market capitalization of $1.31 billion, a PE ratio of 9.92 and a beta of 0.24. The stock’s 50-day simple moving average is $48.84 and its 200-day simple moving average is $45.71.

Employers (NYSE:EIG) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 EPS 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 firm had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. Sell-side analysts forecast that Employers will post 3.63 earnings per share for the current year.

Employers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.27%. Employers’s dividend payout ratio is currently 22.47%.

Hedge Funds Weigh In On Employers

A number of hedge funds have recently made changes to their positions in EIG. LSV Asset Management increased its holdings in shares of Employers by 33.5% in 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. SG Americas Securities LLC acquired a new stake in Employers during the third quarter worth $436,000. Price T Rowe Associates Inc. MD increased its stake in 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 acquiring an additional 834 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in Employers by 1.3% during 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 acquiring an additional 292 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Employers during the second quarter worth $1,522,000. Institutional investors and hedge funds 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.