Employers (NYSE:EIG) Reaches New 1-Year High – Time to Buy?

Shares of Employers Holdings, Inc. (NYSE:EIG) hit a new 52-week high during trading on Wednesday . The company traded as high as $51.69 and last traded at $51.69, with a volume of 8913 shares trading hands. The stock had previously closed at $49.02.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial lifted their price target on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JMP Securities raised Employers to a “hold” rating in a research note on Thursday, August 1st. Finally, StockNews.com raised Employers from a “hold” rating to a “buy” rating in a research note on Monday.

Employers Stock Up 9.3 %

The stock has a 50 day moving average of $48.00 and a 200 day moving average of $45.22. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.18 and a beta of 0.24.

Employers (NYSE:EIG) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $225.19 million. As a group, sell-side analysts anticipate that Employers Holdings, Inc. will post 3.63 EPS for the current fiscal year.

Employers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.24%. The ex-dividend date is Wednesday, November 13th. Employers’s payout ratio is presently 22.47%.

Institutional Trading of Employers

Institutional investors have recently added to or reduced their stakes in the stock. Isthmus Partners LLC boosted its holdings in shares of Employers by 0.5% during the 2nd quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock worth $35,000 after buying an additional 375 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Employers during the 1st quarter worth approximately $36,000. Bessemer Group Inc. boosted its holdings in shares of Employers by 983.8% during the 1st quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock worth $51,000 after buying an additional 1,033 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 buying an additional 358 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Employers during the 2nd quarter worth approximately $81,000. 80.49% of the stock is currently owned by 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.