Employers (NYSE:EIG) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Employers Holdings Inc (NYSE:EIG)’s stock price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $45.89 and traded as low as $44.67. Employers shares last traded at $44.96, with a volume of 280,502 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EIG shares. Weiss Ratings restated a “hold (c)” rating on shares of Employers in a research report on Tuesday, September 22nd. Truist Financial lifted their target price on Employers from $49.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $59.00.

Employers Stock Down 8.4%

The company has a current ratio of 1.41, a quick ratio of 0.39 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average is $49.48 and its 200-day moving average is $45.89. The company has a market cap of $807.53 million, a price-to-earnings ratio of 26.60 and a beta of 0.46.

Employers (NYSE:EIG) last issued its earnings results on Wednesday, October 28th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.12. The business had revenue of $189.30 million for the quarter, compared to analyst estimates of $191.46 million. Employers had a net margin of 3.49% and a return on equity of 5.82%. During the same period in the prior year, the firm earned ($1.10) earnings per share. On average, analysts anticipate that Employers Holdings Inc will post 2.23 earnings per share for the current fiscal year.

Employers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, November 12th. This represents a $1.36 annualized dividend and a dividend yield of 3.0%. Employers’s dividend payout ratio is currently 80.47%.

Institutional Trading of Employers

Several large investors have recently made changes to their positions in the company. Nykredit A S bought a new stake in Employers in the 2nd quarter valued at about $30,000. Bessemer Group Inc. raised its stake in Employers by 227.1% during the 1st quarter. Bessemer Group Inc. now owns 651 shares of the financial services provider’s stock worth $27,000 after buying an additional 452 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Employers in the second quarter worth approximately $35,000. Global Retirement Partners LLC bought a new position in Employers in the second quarter worth approximately $41,000. Finally, Fortitude Family Office LLC bought a new position in Employers in the third quarter worth approximately $78,000. 80.49% of the stock is currently owned by institutional investors and hedge funds.

Employers Company Profile

Employers Holdings, Inc (NYSE:EIG) is an insurance holding company specializing in workers’ compensation coverage for small and midsize businesses. Through its insurance subsidiaries, the company provides policies designed to cover workplace injuries, related medical expenses, rehabilitation, and wage-replacement benefits.

In addition to underwriting workers’ compensation insurance, Employers offers claims management, workplace-safety and loss-control services, risk-management resources, and policyholder support.