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

StockNews.com lowered shares of Employers (NYSE:EIG) from a buy rating to a hold rating in a report issued on Tuesday.

EIG has been the topic of a number of other research reports. JMP Securities upgraded Employers to a “hold” rating in a research report on Thursday, August 1st. Truist Financial increased their price objective on shares of Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, November 1st.

Employers Stock Up 0.8 %

NYSE EIG opened at $53.57 on Tuesday. The firm has a 50-day moving average price of $48.62 and a two-hundred day moving average price of $45.59. Employers has a 12-month low of $37.40 and a 12-month high of $54.44. The company has a market capitalization of $1.32 billion, a P/E ratio of 9.96 and a beta of 0.24.

Employers (NYSE:EIG) last issued its quarterly earnings results 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 business had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $225.19 million. Equities analysts expect that Employers will post 3.63 EPS for the current year.

Employers Announces Dividend

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 $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.24%. Employers’s payout ratio is 22.47%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EIG. Dimensional Fund Advisors LP grew its position in Employers by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,103,051 shares of the financial services provider’s stock worth $89,653,000 after acquiring an additional 13,889 shares during the last quarter. LSV Asset Management boosted its position in Employers by 33.5% during the 2nd quarter. LSV Asset Management now owns 1,066,245 shares of the financial services provider’s stock worth $45,454,000 after buying an additional 267,419 shares during the period. American Century Companies Inc. grew its holdings in Employers by 24.2% during the 2nd quarter. American Century Companies Inc. now owns 458,722 shares of the financial services provider’s stock worth $19,555,000 after acquiring an additional 89,429 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Employers by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 418,784 shares of the financial services provider’s stock valued at $20,089,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Employers by 1.6% during the third quarter. Assenagon Asset Management S.A. now owns 200,660 shares of the financial services provider’s stock worth $9,626,000 after purchasing an additional 3,257 shares during the period. Institutional investors 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.