Employers (NYSE:EIG) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Key Points

• Employers beat quarterly expectations: The company reported $0.70 in earnings per share, $0.13 above consensus, while revenue reached $220.20 million versus estimates of $203.51 million.
• Shares fell 0.8% to $49.55 despite the earnings beat. Employers has a market capitalization of approximately $903.83 million and trades at a P/E ratio of 150.16.
• Analysts maintain a “Hold” consensus: Recent ratings changes moved the stock toward or maintained a Hold view, while institutional investors own 80.49% of outstanding shares.

Employers (NYSE:EIG - Get Free Report) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.13, FiscalAI reports. Employers had a net margin of 0.95% and a return on equity of 1.10%. The firm had revenue of $220.20 million during the quarter, compared to analyst estimates of $203.51 million.

Employers Stock Down 0.8%

Shares of Employers stock traded down $0.42 during trading on Wednesday, hitting $49.55. 226,702 shares of the stock traded hands, compared to its average volume of 260,157. The stock has a market cap of $903.83 million, a P/E ratio of 150.16 and a beta of 0.46. The company has a fifty day moving average price of $47.74 and a two-hundred day moving average price of $44.16. Employers has a twelve month low of $35.73 and a twelve month high of $52.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.40 and a current ratio of 0.40.

Hedge Funds Weigh In On Employers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in Employers by 32.8% in the first quarter. Royal Bank of Canada now owns 6,037 shares of the financial services provider's stock worth $306,000 after acquiring an additional 1,490 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Employers by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,685 shares of the financial services provider's stock valued at $744,000 after purchasing an additional 644 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Employers by 9.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 67,992 shares of the financial services provider's stock valued at $3,443,000 after purchasing an additional 5,696 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Employers by 738.8% in the 1st quarter. Jane Street Group LLC now owns 40,448 shares of the financial services provider's stock valued at $2,048,000 after purchasing an additional 35,626 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Employers by 8.5% in the second quarter. JPMorgan Chase & Co. now owns 81,609 shares of the financial services provider's stock worth $3,850,000 after purchasing an additional 6,410 shares in the last quarter. Institutional investors own 80.49% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EIG shares. Weiss Ratings upgraded Employers from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, June 26th. Zacks Research lowered Employers from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Finally, Wall Street Zen raised Employers from a "sell" rating to a "hold" rating in a research note on Saturday, June 13th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

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.

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