Employers (NYSE:EIG) Upgraded to “Buy” at StockNews.com

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

Other analysts have also issued research reports about the stock. Truist Financial raised their target price on shares of Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Friday. JMP Securities raised Employers to a “hold” rating in a report on Thursday, August 1st.

Employers Stock Down 0.0 %

NYSE:EIG opened at $47.80 on Monday. Employers has a twelve month low of $37.33 and a twelve month high of $50.00. The stock’s 50-day simple moving average is $47.96 and its 200 day simple moving average is $45.18. The firm has a market capitalization of $1.19 billion, a PE ratio of 8.95 and a beta of 0.24.

Employers (NYSE:EIG) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $225.19 million. Employers had a net margin of 15.27% and a return on equity of 9.78%. On average, analysts anticipate that Employers will post 3.63 EPS for the current fiscal year.

Employers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Wednesday, November 13th. Employers’s payout ratio is currently 22.47%.

Institutional Trading of Employers

Institutional investors have recently modified their holdings of the business. Isthmus Partners LLC lifted its holdings in Employers by 0.5% during the 2nd quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock worth $35,000 after buying an additional 375 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Employers in the first quarter worth approximately $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 during the period. 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 acquiring an additional 358 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Employers during the 2nd quarter valued at approximately $81,000. Institutional investors own 80.49% of the company’s stock.

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.