Employers (NYSE:EIG) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Employers Holdings shares rose above their 200-day moving average, reaching $48.88 and closing near $48.10, compared with the average of $44.66.
• Analyst sentiment remains mixed but leans cautious: the stock has an overall “Hold” rating, while Truist raised its price target to $59 and issued a Buy rating.
• The company beat quarterly expectations with $0.70 in EPS versus $0.57 expected and revenue of $220.2 million, but revenue declined 10.6% year over year. Employers also declared a $0.34 quarterly dividend, yielding about 2.8%.

Employers Holdings Inc (NYSE:EIG - Get Free Report)'s share price 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 changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EIG. Wall Street Zen upgraded shares of Employers from a "sell" rating to a "hold" rating in a report on Saturday, June 13th. Weiss Ratings upgraded shares of Employers from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, June 26th. Zacks Research cut shares of Employers from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Finally, Truist Financial lifted their price target on Employers from $49.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Employers has an average rating of "Hold" and an average target price of $59.00.

Employers Price Performance

The firm has a market cap of $863.88 million, a P/E ratio of 69.71 and a beta of 0.47. The company has a fifty day moving average of $49.29 and a 200-day moving average of $44.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.39 and a quick ratio of 0.39.

Employers (NYSE:EIG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.13. The business had revenue of $220.20 million for the quarter, compared to analysts' expectations of $203.51 million. Employers had a return on equity of 1.30% and a net margin of 0.91%.The business's revenue was down 10.6% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS. On average, sell-side analysts anticipate 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. Investors of record on Wednesday, August 12th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, August 12th. Employers's dividend payout ratio (DPR) is presently 197.10%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Employers in the 2nd quarter valued at about $130,258,000. Goldman Sachs Group Inc. lifted its position in shares of Employers by 126.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 329,479 shares of the financial services provider's stock worth $14,224,000 after buying an additional 183,828 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Employers by 69.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 388,769 shares of the financial services provider's stock worth $16,783,000 after buying an additional 159,956 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Employers by 93.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 264,078 shares of the financial services provider's stock worth $12,459,000 after buying an additional 127,330 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Employers in the second quarter valued at approximately $6,135,000. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

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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