Employers (NYSE:EIG) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Employers (NYSE:EIG) issued its earnings results on Wednesday. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03, reports. The business had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $225.19 million. Employers had a return on equity of 9.96% and a net margin of 15.27%.

Employers Stock Performance

EIG stock opened at $48.75 on Friday. The firm has a market cap of $1.21 billion, a P/E ratio of 9.13 and a beta of 0.24. Employers has a 1 year low of $37.33 and a 1 year high of $50.00. The stock has a 50-day simple moving average of $47.90 and a 200-day simple moving average of $45.05.

Employers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Wednesday, November 13th. Employers’s payout ratio is 22.47%.

Hedge Funds Weigh In On Employers

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Isthmus Partners LLC boosted its stake in shares of Employers by 0.5% in the second quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 375 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Employers during the first quarter worth about $36,000. Bessemer Group Inc. lifted its stake in shares of Employers by 983.8% in the first quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 1,033 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Employers by 45.5% in the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 358 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in Employers in the second quarter valued at about $81,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities upgraded shares of Employers to a “hold” rating in a research note on Thursday, August 1st.

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.