StockNews.com Downgrades Employers (NYSE:EIG) to Hold

Employers (NYSE:EIG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

EIG has been the topic of several other reports. JMP Securities raised Employers to a “hold” rating in a report on Thursday, August 1st. Truist Financial upped their price objective on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st.

Employers Trading Up 1.0 %

Shares of NYSE:EIG opened at $53.86 on Tuesday. The stock has a 50 day moving average of $48.32 and a 200 day moving average of $45.40. The company has a market cap of $1.33 billion, a PE ratio of 10.09 and a beta of 0.24. Employers has a 12-month low of $37.33 and a 12-month high of $54.44.

Employers (NYSE:EIG) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. Employers had a return on equity of 9.78% and a net margin of 15.27%. The business had revenue of $224.00 million during the quarter, compared to the consensus estimate of $225.19 million. Equities research analysts predict that Employers will post 3.63 earnings per share for the current fiscal year.

Institutional Trading of Employers

A number of hedge funds and other institutional investors have recently bought and sold shares of EIG. BNP Paribas Financial Markets increased its stake in Employers by 81.2% in the first quarter. BNP Paribas Financial Markets now owns 13,171 shares of the financial services provider’s stock worth $598,000 after purchasing an additional 5,903 shares during the period. Mutual of America Capital Management LLC bought a new position in shares of Employers during the 1st quarter worth $201,000. Texas Permanent School Fund Corp grew its position in shares of Employers by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,511 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 292 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Employers by 22.1% during the 1st quarter. QRG Capital Management Inc. now owns 24,774 shares of the financial services provider’s stock worth $1,125,000 after buying an additional 4,478 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Employers during the 1st quarter worth $235,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.

Employers Company Profile

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.