Employers (NYSE:EIG) Stock Passes Above 200 Day Moving Average – Should You Sell?

Shares of Employers Holdings, Inc. (NYSE:EIG) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

EIG has been the subject of a number of analyst reports. 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, November 1st. StockNews.com downgraded Employers from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

Employers Trading Down 2.5 %

The firm’s 50 day moving average price is $51.80 and its two-hundred day moving average price is $48.40. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 8.90 and a beta of 0.27.

Employers (NYSE:EIG) last released 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. Employers had a return on equity of 9.78% and a net margin of 15.27%. The firm had revenue of $224.00 million for the quarter, compared to analyst estimates of $225.19 million. As a group, equities research analysts predict that Employers Holdings, Inc. will post 3.65 EPS for the current year.

Employers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Wednesday, November 13th. Employers’s payout ratio is 22.47%.

Institutional Trading of Employers

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of Employers by 50.1% during the fourth quarter. Versant Capital Management Inc now owns 596 shares of the financial services provider’s stock worth $31,000 after buying an additional 199 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Employers by 45.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 358 shares in the last quarter. FMR LLC increased its holdings in shares of Employers by 15.2% during the third 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 period. Mackenzie Financial Corp bought a new stake in shares of Employers in the second quarter valued at approximately $257,000. Finally, Intech Investment Management LLC acquired a new stake in Employers during the second quarter worth approximately $257,000. 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.