Employers (NYSE:EIG) Upgraded at StockNews.com

StockNews.com upgraded shares of Employers (NYSE:EIG) from a hold rating to a buy rating in a research note published on Monday.

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

Employers Stock Up 9.3 %

Employers stock opened at $53.60 on Monday. The firm has a fifty day simple moving average of $48.12 and a two-hundred day simple moving average of $45.27. Employers has a twelve month low of $37.33 and a twelve month high of $54.26. The company has a market capitalization of $1.33 billion, a PE ratio of 10.04 and a beta of 0.24.

Employers (NYSE:EIG) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $225.19 million. Employers had a return on equity of 9.78% and a net margin of 15.27%. As a group, equities analysts expect that Employers will post 3.63 earnings per share for the current fiscal year.

Employers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Wednesday, November 13th. Employers’s payout ratio is 22.47%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management increased its position in shares of Employers by 58.9% during the first quarter. LSV Asset Management now owns 798,826 shares of the financial services provider’s stock valued at $36,259,000 after buying an additional 295,983 shares during the period. SG Americas Securities LLC purchased a new position in shares of Employers during the 3rd quarter worth approximately $436,000. Price T Rowe Associates Inc. MD raised its position in shares of Employers by 12.8% in the 1st 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 in the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Employers by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,511 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 292 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Employers during the second quarter valued at approximately $1,522,000. 80.49% of the stock is currently owned by institutional investors.

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.