Employers Holdings Inc (EIG) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Employers Holdings Inc (NYSE:EIG) from a hold rating to a buy rating in a research report released on Friday. They currently have $46.00 target price on the financial services provider’s stock.
According to Zacks, “Employers Holdings, Inc. is a specialty provider of workers compensation insurance focused on select small businesses engaged in low to medium hazard industries. It markets its products through independent local, regional, and national agents and brokers, as well as through its strategic partnerships and alliances and relationships with national, regional, and local trade groups and associations. Employers Holdings, Inc. is headquartered in Reno, Nevada. “
Other research analysts have also issued reports about the stock. BidaskClub downgraded Employers Holdings from a strong-buy rating to a buy rating in a research report on Thursday, June 22nd. ValuEngine upgraded Employers Holdings from a hold rating to a buy rating in a research report on Friday, June 2nd. Finally, Buckingham Research started coverage on Employers Holdings in a research report on Monday, September 11th. They set an underperform rating and a $36.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $41.00.
Shares of Employers Holdings (NYSE:EIG) traded up 1.47% during trading on Friday, hitting $41.30. 199,434 shares of the stock traded hands. Employers Holdings has a 1-year low of $28.81 and a 1-year high of $44.55. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.79 and a beta of 1.10. The firm has a 50-day moving average of $41.98 and a 200-day moving average of $40.57.
Employers Holdings (NYSE:EIG) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Employers Holdings had a net margin of 13.72% and a return on equity of 10.25%. The firm had revenue of $191.10 million during the quarter, compared to analyst estimates of $194.78 million. On average, equities analysts forecast that Employers Holdings will post $2.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were issued a $0.15 dividend. The ex-dividend date was Monday, August 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.45%. Employers Holdings’s dividend payout ratio is presently 18.63%.
Several hedge funds have recently modified their holdings of EIG. BlackRock Inc. grew its stake in shares of Employers Holdings by 56,909.6% during the first quarter. BlackRock Inc. now owns 4,130,349 shares of the financial services provider’s stock worth $156,746,000 after acquiring an additional 4,123,104 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Employers Holdings by 342.9% during the second quarter. Teachers Advisors LLC now owns 243,804 shares of the financial services provider’s stock worth $10,313,000 after acquiring an additional 188,754 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Employers Holdings by 5.6% during the first quarter. Vanguard Group Inc. now owns 2,797,847 shares of the financial services provider’s stock worth $106,177,000 after acquiring an additional 147,837 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Employers Holdings by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,350,986 shares of the financial services provider’s stock worth $89,220,000 after acquiring an additional 119,843 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Employers Holdings by 11.8% during the second quarter. State Street Corp now owns 857,434 shares of the financial services provider’s stock worth $36,267,000 after acquiring an additional 90,172 shares during the last quarter. Institutional investors and hedge funds own 77.33% of the company’s stock.
Employers Holdings Company Profile
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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