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

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

Separately, Truist Financial raised their target price on shares of Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, November 1st.

Employers Stock Performance

Shares of EIG opened at $52.38 on Wednesday. Employers has a 52-week low of $38.21 and a 52-week high of $54.44. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 9.81 and a beta of 0.26. The business’s fifty day moving average is $50.93 and its 200-day moving average is $47.09.

Employers (NYSE:EIG) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $224.00 million for the quarter, compared to analysts’ expectations of $225.19 million. Employers had a return on equity of 9.78% and a net margin of 15.27%. As a group, research analysts forecast that Employers will post 3.65 EPS for the current fiscal year.

Institutional Trading of Employers

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Employers by 45.5% in the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 358 shares during the period. FMR LLC increased its holdings in Employers by 15.2% in the third quarter. FMR LLC now owns 1,520 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 200 shares during the period. Innealta Capital LLC acquired a new stake in Employers in the second quarter valued at $81,000. Mackenzie Financial Corp acquired a new stake in Employers in the second quarter valued at $257,000. Finally, Intech Investment Management LLC acquired a new stake in Employers in the second quarter valued at $257,000. 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.