Employers (NYSE:EIG) Stock Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Employers Holdings shares fell below their 200-day moving average, trading as low as $44.67 and last changing hands at $44.96, down 8.4%.
• Analysts maintain a consensus “Hold” rating with a $59.00 price target; Truist raised its target from $49.00 and issued a “Buy” rating.
• The company exceeded quarterly EPS expectations, reporting $0.71 versus $0.59 forecast, and declared a quarterly dividend of $0.34, equal to a 3.0% annualized yield.

Employers Holdings Inc (NYSE:EIG - Get Free Report) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $45.89 and traded as low as $44.67. Employers shares last traded at $44.96, with a volume of 280,502 shares trading hands.

Analyst Upgrades and Downgrades

EIG has been the topic of a number of recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Employers in a report on Tuesday, September 22nd. Truist Financial boosted their price objective on shares of Employers from $49.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $59.00.

Employers Trading Down 8.4%

The company has a quick ratio of 0.39, a current ratio of 1.41 and a debt-to-equity ratio of 0.16. The company has a market cap of $807.53 million, a price-to-earnings ratio of 26.60 and a beta of 0.46. The firm has a 50 day moving average price of $49.48 and a two-hundred day moving average price of $45.89.

Employers (NYSE:EIG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.12. The company had revenue of $189.30 million for the quarter, compared to analyst estimates of $191.46 million. Employers had a return on equity of 5.82% and a net margin of 3.49%. During the same period in the previous year, the firm earned ($1.10) earnings per share. As a group, equities analysts forecast that Employers Holdings Inc will post 2.23 earnings per share for the current year.

Employers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 12th will be given a $0.34 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.0%. Employers's payout ratio is 80.47%.

Institutional Investors Weigh In On Employers

A number of institutional investors have recently modified their holdings of EIG. BlackRock Inc. bought a new position in Employers during the second quarter worth $130,258,000. Bank of New York Mellon Corp acquired a new position in Employers in the second quarter valued at $6,135,000. Empowered Funds LLC acquired a new position in Employers in the second quarter valued at $5,344,000. Bank of America Corp DE bought a new stake in Employers during the second quarter valued at $3,966,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Employers by 27.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 300,567 shares of the financial services provider's stock valued at $12,365,000 after acquiring an additional 65,100 shares during the last quarter. 80.49% of the stock is owned by institutional investors.

Employers Company Profile

Employers Holdings, Inc NYSE: EIG is an insurance holding company specializing in workers' compensation coverage for small and midsize businesses. Through its insurance subsidiaries, the company provides policies designed to cover workplace injuries, related medical expenses, rehabilitation, and wage-replacement benefits.

In addition to underwriting workers' compensation insurance, Employers offers claims management, workplace-safety and loss-control services, risk-management resources, and policyholder support.

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