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

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

Several other research firms also recently issued reports on EIG. Truist Financial upped their target price on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JMP Securities raised Employers to a “hold” rating in a report on Thursday, August 1st.

Employers Price Performance

Shares of NYSE:EIG opened at $53.40 on Tuesday. The firm has a market capitalization of $1.32 billion, a P/E ratio of 10.00 and a beta of 0.24. The business’s 50-day moving average is $48.54 and its 200 day moving average is $45.54. Employers has a 1 year low of $37.33 and a 1 year high of $54.44.

Employers (NYSE:EIG) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. The firm had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. Employers had a net margin of 15.27% and a return on equity of 9.78%. On average, analysts expect that Employers will post 3.63 EPS for the current year.

Employers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.25%. Employers’s payout ratio is currently 22.47%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new position in shares of Employers during the 1st quarter valued at about $36,000. Bessemer Group Inc. lifted its holdings in Employers by 983.8% in the first quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 1,033 shares during the period. GAMMA Investing LLC lifted 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 acquiring an additional 358 shares during the period. Innealta Capital LLC purchased a new stake in Employers in the 2nd quarter worth approximately $81,000. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Employers during the 1st quarter worth approximately $201,000. 80.49% of the stock is currently owned by institutional investors and hedge funds.

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.