Employers (NYSE:EIG) Shares Pass Above 200 Day Moving Average – Time to Sell?

Employers Holdings Inc (NYSE:EIG) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $44.66 and traded as high as $48.88. Employers shares last traded at $48.10, with a volume of 134,614 shares traded.

Analyst Upgrades and Downgrades

EIG has been the topic of a number of recent research reports. Truist Financial raised their target price on Employers from $49.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Zacks Research lowered shares of Employers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Employers from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Weiss Ratings upgraded shares of Employers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.00.

Employers Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $869.55 million, a P/E ratio of 70.07 and a beta of 0.47. The business has a fifty day moving average of $49.34 and a 200-day moving average of $44.70.

Employers (NYSE:EIG) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.13. Employers had a return on equity of 1.30% and a net margin of 0.91%.The company had revenue of $220.20 million during the quarter, compared to analyst estimates of $203.51 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. On average, sell-side analysts forecast that Employers Holdings Inc will post 2.23 EPS for the current fiscal year.

Employers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. Employers’s dividend payout ratio (DPR) is 197.10%.

Institutional Trading of Employers

Several institutional investors have recently modified their holdings of EIG. Legato Capital Management LLC lifted its stake in Employers by 230.7% during 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 holdings in Employers by 719.3% during the fourth quarter. Intech Investment Management LLC now owns 95,115 shares of the financial services provider’s stock worth $4,106,000 after buying an additional 83,506 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Employers by 27.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 300,567 shares of the financial services provider’s stock worth $12,365,000 after buying an additional 65,100 shares during the last quarter. Teacher Retirement System of Texas grew its position in Employers by 24.4% in the fourth quarter. Teacher Retirement System of Texas now owns 139,159 shares of the financial services provider’s stock worth $6,007,000 after buying an additional 27,299 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Employers in the fourth quarter valued at $1,606,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

Employers Company Profile

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.