Employers (NYSE:EIG) Rating Lowered to Hold at StockNews.com

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

Separately, Truist Financial lifted their price objective on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, November 1st.

Employers Trading Up 0.8 %

NYSE:EIG opened at $50.54 on Friday. The company has a market cap of $1.25 billion, a P/E ratio of 9.46 and a beta of 0.26. Employers has a twelve month low of $38.38 and a twelve month high of $54.44. The company’s 50-day moving average price is $51.26 and its 200-day moving average price is $47.45.

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

Institutional Trading of Employers

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted 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 acquiring an additional 200 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Employers by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 14,723 shares of the financial services provider’s stock valued at $708,000 after purchasing an additional 227 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of Employers by 4.3% during the 2nd quarter. Inspire Investing LLC now owns 8,225 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 336 shares during the period. GAMMA Investing LLC increased its position in shares of Employers by 45.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 358 shares during the last quarter. Finally, Isthmus Partners LLC raised its holdings in Employers by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock valued at $35,000 after buying an additional 375 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.

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.