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.

Several other research analysts have also issued reports on the stock. JMP Securities raised shares of Employers to a “hold” rating in a research note 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 report on Friday.

Employers Price Performance

Shares of NYSE:EIG opened at $47.80 on Monday. Employers has a 1 year low of $37.33 and a 1 year high of $50.00. The business’s 50-day moving average is $47.96 and its 200-day moving average is $45.18. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 8.95 and a beta of 0.24.

Employers (NYSE:EIG) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The business had revenue of $224.00 million during the quarter, compared to the consensus estimate of $225.19 million. Employers had a return on equity of 9.78% and a net margin of 15.27%. Analysts anticipate 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. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.51%. Employers’s dividend payout ratio (DPR) is presently 22.47%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Isthmus Partners LLC raised its holdings in shares of Employers by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 375 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Employers during the 1st quarter worth approximately $36,000. Bessemer Group Inc. raised 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 purchasing an additional 1,033 shares during the last quarter. GAMMA Investing LLC lifted 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. Finally, Innealta Capital LLC purchased a new position in shares of Employers during the second quarter valued at approximately $81,000. 80.49% of the stock is 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.