Employers (NYSE:EIG) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday, Zacks.com reports.
According to Zacks, "Employers Holdings, Inc. is a specialty provider of workers compensation insurance focused on select small businesses engaged in low to medium hazard industries. It markets its products through independent local, regional, and national agents and brokers, as well as through its strategic partnerships and alliances and relationships with national, regional, and local trade groups and associations. Employers Holdings, Inc. is headquartered in Reno, Nevada. "
EIG has been the subject of a number of other research reports. TheStreet lowered Employers from a "b-" rating to a "c+" rating in a report on Friday, March 27th. Boenning Scattergood cut Employers from an "outperform" rating to a "neutral" rating in a report on Monday, April 27th. Finally, SunTrust Banks dropped their price target on Employers from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, April 1st.
NYSE:EIG traded up $0.71 during mid-day trading on Monday, hitting $30.11. 148,793 shares of the stock traded hands, compared to its average volume of 227,165. Employers has a 52 week low of $25.53 and a 52 week high of $45.23. The stock has a market capitalization of $888.22 million, a price-to-earnings ratio of 14.27 and a beta of 0.14. The firm's 50 day moving average is $29.72 and its two-hundred day moving average is $36.71.
Employers (NYSE:EIG) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.53 by ($0.18). Employers had a return on equity of 7.47% and a net margin of 8.99%. The business had revenue of $188.10 million for the quarter, compared to the consensus estimate of $184.79 million. During the same period in the prior year, the business posted $0.94 earnings per share. Research analysts predict that Employers will post 1.15 EPS for the current fiscal year.
In other Employers news, CFO Michael Scott Paquette purchased 7,500 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was bought at an average cost of $29.32 per share, for a total transaction of $219,900.00. Following the completion of the purchase, the chief financial officer now owns 27,913 shares in the company, valued at approximately $818,409.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas D. Dirks purchased 13,000 shares of the stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $29.53 per share, with a total value of $383,890.00. Following the acquisition, the chief executive officer now owns 474,347 shares of the company's stock, valued at approximately $14,007,466.91. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 30,310 shares of company stock worth $890,371. Insiders own 2.90% of the company's stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its stake in Employers by 2.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 8,779 shares of the financial services provider's stock valued at $367,000 after purchasing an additional 228 shares during the last quarter. Mason Street Advisors LLC boosted its position in Employers by 2.3% in the fourth quarter. Mason Street Advisors LLC now owns 11,081 shares of the financial services provider's stock valued at $463,000 after buying an additional 244 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Employers by 23.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,752 shares of the financial services provider's stock valued at $73,000 after buying an additional 334 shares during the last quarter. Amalgamated Bank increased its holdings in Employers by 8.3% in the 4th quarter. Amalgamated Bank now owns 5,305 shares of the financial services provider's stock worth $221,000 after buying an additional 407 shares during the period. Finally, Legal & General Group Plc raised its position in Employers by 0.4% during the 1st quarter. Legal & General Group Plc now owns 96,020 shares of the financial services provider's stock worth $3,890,000 after buying an additional 418 shares during the last quarter. 80.87% of the stock is owned by institutional investors and hedge funds.
Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.
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