Employers (NYSE:EIG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Employers (NYSE:EIG) from a hold rating to a buy rating in a research report report published on Monday morning.

Several other research firms have also recently issued reports on EIG. JMP Securities raised Employers to a “hold” rating in a research report on Thursday, August 1st. Truist Financial increased their price objective on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, November 1st.

Employers Price Performance

EIG opened at $53.60 on Monday. The firm has a market cap of $1.33 billion, a PE ratio of 10.04 and a beta of 0.24. The stock has a 50-day moving average price of $48.12 and a 200-day moving average price of $45.27. Employers has a 1 year low of $37.33 and a 1 year high of $54.26.

Employers (NYSE:EIG) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. The business had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $225.19 million. Employers had a net margin of 15.27% and a return on equity of 9.78%. As a group, sell-side analysts anticipate that Employers will post 3.63 EPS for the current year.

Employers Announces Dividend

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

Hedge Funds Weigh In On Employers

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP grew its holdings in shares of Employers by 24.7% in the third quarter. Royce & Associates LP now owns 34,393 shares of the financial services provider’s stock worth $1,650,000 after acquiring an additional 6,806 shares during the period. Meritage Portfolio Management grew its stake in shares of Employers by 9.3% during the 3rd quarter. Meritage Portfolio Management now owns 8,297 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 704 shares during the period. QRG Capital Management Inc. increased its position in shares of Employers by 15.8% during the 3rd quarter. QRG Capital Management Inc. now owns 32,315 shares of the financial services provider’s stock valued at $1,550,000 after purchasing an additional 4,415 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Employers by 1.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 200,660 shares of the financial services provider’s stock worth $9,626,000 after purchasing an additional 3,257 shares during the period. Finally, Capital Investment Advisors LLC purchased a new position in shares of Employers in the third quarter worth approximately $387,000. 80.49% of the stock is owned by institutional investors.

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.