Employers (NYSE:EIG) Hits New 12-Month High – Here’s Why

Employers Holdings Inc (NYSE:EIG) shares reached a new 52-week high on Monday . The stock traded as high as $50.74 and last traded at $49.46, with a volume of 692142 shares changing hands. The stock had previously closed at $50.74.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Zacks Research lowered shares of Employers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Wall Street Zen upgraded shares of Employers from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings upgraded shares of Employers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Employers Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $904.43 million, a P/E ratio of 150.33 and a beta of 0.49. The business has a 50 day moving average of $44.04 and a 200-day moving average of $42.94.

Employers (NYSE:EIG) last issued its quarterly earnings data 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). Employers had a return on equity of 1.10% and a net margin of 0.95%.The company had revenue of $207.60 million for the quarter, compared to analysts’ expectations of $213.04 million. During the same period last year, the company posted $0.87 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts predict that Employers Holdings Inc will post 2.15 EPS for the current fiscal year.

Employers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a dividend of $0.34 per share. This is a boost from Employers’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Wednesday, May 13th. Employers’s dividend payout ratio (DPR) is currently 412.12%.

Hedge Funds Weigh In On Employers

A number of large investors have recently modified their holdings of EIG. Aquatic Capital Management LLC grew its stake in Employers by 1.2% during the third quarter. Aquatic Capital Management LLC now owns 22,623 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 277 shares in the last quarter. Deutsche Bank AG lifted its stake in Employers by 1.3% in the 4th quarter. Deutsche Bank AG now owns 24,084 shares of the financial services provider’s stock worth $1,040,000 after purchasing an additional 302 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Employers by 133.5% in the 2nd quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 363 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in Employers by 145.5% in the 4th quarter. Clearstead Advisors LLC now owns 621 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 368 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Employers by 35.7% in the 4th 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 period. 80.49% of the stock is currently owned by institutional investors.

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.