Employers (NYSE:EIG) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Employers (NYSE:EIG) from a hold rating to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Wall Street Zen upgraded Employers from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Employers in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Employers has a consensus rating of “Buy”.

Employers Trading Up 3.5%

EIG stock opened at $41.59 on Tuesday. The stock has a market cap of $934.94 million, a P/E ratio of 126.03 and a beta of 0.57. Employers has a twelve month low of $35.73 and a twelve month high of $52.28. The company’s 50 day moving average is $43.49 and its two-hundred day moving average is $41.99.

Employers (NYSE:EIG) last posted its earnings results on Thursday, February 19th. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.25. Employers had a net margin of 1.26% and a return on equity of 2.10%. The firm had revenue of $170.50 million for the quarter, compared to the consensus estimate of $217.35 million. During the same period last year, the firm posted $1.15 EPS. The company’s revenue was down 21.3% on a year-over-year basis. On average, equities research analysts predict that Employers will post 3.63 earnings per share for the current year.

Employers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, March 4th. This represents a $1.28 annualized dividend and a dividend yield of 3.1%. Employers’s dividend payout ratio is 387.88%.

Insider Activity

In related news, EVP Michael Pedraja purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average price of $39.73 per share, with a total value of $79,460.00. Following the completion of the acquisition, the executive vice president directly owned 19,830 shares in the company, valued at $787,845.90. This represents a 11.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Clearstead Advisors LLC raised its holdings in Employers by 145.5% during the fourth quarter. Clearstead Advisors LLC now owns 621 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 368 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Employers by 133.5% during the 2nd quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock worth $30,000 after buying an additional 363 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Employers during the 2nd quarter worth approximately $39,000. GAMMA Investing LLC lifted its holdings in shares of Employers by 35.7% in the 4th quarter. GAMMA Investing LLC now owns 1,561 shares of the financial services provider’s stock valued at $67,000 after buying an additional 411 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Employers by 230.2% in the third quarter. Versant Capital Management Inc now owns 1,981 shares of the financial services provider’s stock valued at $84,000 after buying an additional 1,381 shares in the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.

About Employers

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.