Weiss Ratings Reaffirms "Hold (C)" Rating for Employers (NYSE:EIG)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Employers (NYSE:EIG) after several recent evaluations, with an average target price of $58.00.
• Employers' stock price increased 0.4% on recent trading, reaching $42.41, while the company posted quarterly earnings that missed analysts' estimates, with earnings per share at $0.48.
• Institutional investors have been actively adjusting their positions, with firms like PNC Financial Services and Osaic Holdings increasing their stakes in Employers recently.

Employers (NYSE:EIG - Get Free Report)'s stock had its "hold (c)" rating reissued by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

EIG has been the subject of a number of other research reports. Wall Street Zen lowered shares of Employers from a "hold" rating to a "sell" rating in a research report on Monday, August 25th. Zacks Research raised shares of Employers from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $58.00.

Employers Stock Up 0.4%

Shares of NYSE:EIG traded up $0.15 during trading on Wednesday, reaching $42.41. The stock had a trading volume of 101,409 shares, compared to its average volume of 206,013. The business has a fifty day moving average price of $42.16 and a 200-day moving average price of $45.92. The stock has a market cap of $997.14 million, a P/E ratio of 10.34 and a beta of 0.50. Employers has a fifty-two week low of $38.19 and a fifty-two week high of $54.44.

Employers (NYSE:EIG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.94 by ($0.46). The firm had revenue of $246.30 million during the quarter, compared to analyst estimates of $217.17 million. Employers had a net margin of 11.37% and a return on equity of 7.56%. The business's quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 EPS. As a group, equities analysts forecast that Employers will post 3.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of Employers by 8.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,895 shares of the financial services provider's stock valued at $147,000 after purchasing an additional 215 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Employers by 4.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,172 shares of the financial services provider's stock valued at $291,000 after purchasing an additional 257 shares during the period. Martingale Asset Management L P boosted its stake in shares of Employers by 1.0% in the first quarter. Martingale Asset Management L P now owns 31,750 shares of the financial services provider's stock valued at $1,608,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC boosted its stake in shares of Employers by 16.4% in the first quarter. GAMMA Investing LLC now owns 2,147 shares of the financial services provider's stock valued at $109,000 after purchasing an additional 302 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in shares of Employers by 133.5% in the second quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 363 shares during the period. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

About Employers

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers' compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.

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