Employers (NYSE:EIG) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Employers Holdings, Inc. (NYSE:EIG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $48.36 and traded as high as $48.83. Employers shares last traded at $48.71, with a volume of 137,242 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on EIG shares. Truist Financial lifted their price objective on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com cut shares of Employers from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

Employers Stock Performance

The company has a 50-day moving average of $51.80 and a 200 day moving average of $48.40. The firm has a market cap of $1.17 billion, a P/E ratio of 8.90 and a beta of 0.27.

Employers (NYSE:EIG) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The company 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%. Sell-side analysts anticipate that Employers Holdings, Inc. will post 3.65 EPS for the current fiscal year.

Employers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Wednesday, November 13th. Employers’s dividend payout ratio (DPR) is currently 22.47%.

Institutional Trading of Employers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc raised its stake in shares of Employers by 50.1% in the fourth quarter. Versant Capital Management Inc now owns 596 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 199 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 in the last quarter. FMR LLC raised its position in Employers by 15.2% in the 3rd quarter. FMR LLC now owns 1,520 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 200 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Employers during the 2nd quarter worth $257,000. Finally, Intech Investment Management LLC bought a new position in Employers in the 2nd quarter valued at $257,000. 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.