Truist Financial Forecasts Strong Price Appreciation for Employers (NYSE:EIG) Stock

Employers (NYSE:EIG) had its target price upped by investment analysts at Truist Financial from $55.00 to $58.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 21.31% from the stock’s previous close.

Separately, JMP Securities upgraded Employers to a “hold” rating in a report on Thursday, August 1st.

Employers Trading Down 1.9 %

Shares of NYSE EIG opened at $47.81 on Friday. Employers has a twelve month low of $37.33 and a twelve month high of $50.00. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 8.95 and a beta of 0.24. The firm has a 50-day moving average of $47.95 and a two-hundred day moving average of $45.13.

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

Hedge Funds Weigh In On Employers

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Employers by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 3,154,256 shares of the financial services provider’s stock valued at $124,278,000 after purchasing an additional 16,997 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Employers by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,103,051 shares of the financial services provider’s stock valued at $89,653,000 after purchasing an additional 13,889 shares during the period. LSV Asset Management increased its holdings in shares of Employers by 33.5% in the 2nd 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 period. American Century Companies Inc. increased its holdings in shares of Employers by 24.2% in the 2nd quarter. American Century Companies Inc. now owns 458,722 shares of the financial services provider’s stock valued at $19,555,000 after purchasing an additional 89,429 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Employers by 1.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 200,660 shares of the financial services provider’s stock valued at $9,626,000 after purchasing an additional 3,257 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.

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.