Employers (NYSE:EIG) Stock Crosses Above 200 Day Moving Average of $42.29

Employers Holdings, Inc. (NYSE:EIG)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $42.29 and traded as high as $42.32. Employers shares last traded at $42.31, with a volume of 86,698 shares traded.

Employers Stock Performance

The company has a fifty day simple moving average of $42.27 and a 200 day simple moving average of $42.32. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.03 and a beta of 0.24.

Employers (NYSE:EIG) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.02). The business had revenue of $223.10 million for the quarter, compared to the consensus estimate of $217.46 million. Employers had a net margin of 14.16% and a return on equity of 10.49%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, equities analysts predict that Employers Holdings, Inc. will post 3.65 earnings per share for the current fiscal year.

Employers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.20 annualized dividend and a dividend yield of 2.81%. This is a positive change from Employers’s previous quarterly dividend of $0.28. Employers’s payout ratio is currently 25.42%.

Insiders Place Their Bets

In related news, insider Ann Marie Smith sold 1,764 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $41.26, for a total transaction of $72,782.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $278,133.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Employers

A number of hedge funds have recently added to or reduced their stakes in EIG. Lazard Asset Management LLC purchased a new position in shares of Employers during the first quarter valued at approximately $36,000. Bessemer Group Inc. boosted its holdings in Employers by 983.8% during the 1st 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 last quarter. PNC Financial Services Group Inc. grew its stake in shares of Employers by 13.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,516 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 302 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Employers in the first quarter valued at about $201,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Employers in the first quarter valued at about $235,000. Institutional investors and hedge funds 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.