Employers (NYSE:EIG) Price Target Raised to $58.00 at Truist Financial

Employers (NYSE:EIG) had its price objective increased by Truist Financial from $55.00 to $58.00 in a research report report published on Friday, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Separately, JMP Securities upgraded shares of Employers to a “hold” rating in a research report on Thursday, August 1st.

Employers Trading Down 1.9 %

Shares of NYSE:EIG traded down $0.91 during trading on Friday, reaching $47.81. The company had a trading volume of 88,127 shares, compared to its average volume of 129,977. The company has a fifty day moving average of $47.95 and a two-hundred day moving average of $45.11. The stock has a market capitalization of $1.19 billion, a P/E ratio of 8.96 and a beta of 0.24. Employers has a 12 month low of $37.33 and a 12 month high of $50.00.

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, topping the consensus estimate of $0.78 by $0.03. Employers had a return on equity of 9.96% and a net margin of 15.27%. The firm had revenue of $224.00 million during the quarter, compared to analyst estimates of $225.19 million. As a group, equities research analysts predict that Employers will post 3.63 earnings per share for the current year.

Employers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued 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 2.51%. Employers’s dividend payout ratio is currently 22.47%.

Institutional Investors Weigh In On Employers

Several institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. increased its stake in Employers by 15.8% in the 3rd quarter. QRG Capital Management Inc. now owns 32,315 shares of the financial services provider’s stock worth $1,550,000 after purchasing an additional 4,415 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Employers by 1.6% in 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 last quarter. Capital Investment Advisors LLC bought a new position in shares of Employers in the third quarter worth approximately $387,000. Ellsworth Advisors LLC raised its holdings in Employers by 6.0% during the 3rd quarter. Ellsworth Advisors LLC now owns 12,312 shares of the financial services provider’s stock valued at $591,000 after buying an additional 692 shares during the last quarter. Finally, Inspire Investing LLC boosted its position in Employers by 4.7% during the 3rd quarter. Inspire Investing LLC now owns 8,614 shares of the financial services provider’s stock valued at $413,000 after buying an additional 389 shares during the period. 80.49% of the stock is currently owned by hedge funds and other 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.