Employers (NYSE:EIG) Reaches New 1-Year High – Should You Buy?

Employers Holdings Inc (NYSE:EIG)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $48.20 and last traded at $48.1520, with a volume of 43845 shares trading hands. The stock had previously closed at $46.52.

Analysts Set New Price Targets

A number of analysts recently weighed in on EIG shares. Wall Street Zen raised shares of Employers from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research downgraded shares of Employers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Employers in a research report on Friday, May 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Employers presently has an average rating of “Hold”.

Employers Stock Performance

The company has a 50 day simple moving average of $43.47 and a 200-day simple moving average of $42.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $875.70 million, a P/E ratio of 145.45 and a beta of 0.49.

Employers (NYSE:EIG) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $207.60 million for the quarter, compared to the consensus estimate of $213.04 million. Employers had a net margin of 0.95% and a return on equity of 1.10%. Employers’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 earnings per share. On average, equities analysts expect that Employers Holdings Inc will post 2.15 earnings per share for the current fiscal year.

Employers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, May 13th. This is an increase from Employers’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 2.8%. Employers’s dividend payout ratio (DPR) is 412.12%.

Institutional Investors Weigh In On Employers

A number of hedge funds have recently made changes to their positions in the business. Azarias Capital Management L.P. bought a new position in Employers during the 4th quarter worth approximately $2,983,000. Legato Capital Management LLC lifted its position in Employers by 230.7% in the fourth quarter. Legato Capital Management LLC now owns 34,479 shares of the financial services provider’s stock valued at $1,488,000 after purchasing an additional 24,053 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Employers by 719.3% during the fourth quarter. Intech Investment Management LLC now owns 95,115 shares of the financial services provider’s stock valued at $4,106,000 after purchasing an additional 83,506 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Employers by 24.4% during the fourth quarter. Teacher Retirement System of Texas now owns 139,159 shares of the financial services provider’s stock valued at $6,007,000 after purchasing an additional 27,299 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of Employers in the fourth quarter worth approximately $1,606,000. 80.49% of the stock is currently owned by institutional investors.

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.