Zacks Research Upgrades Employers (NYSE:EIG) to “Strong-Buy”

Employers (NYSE:EIG) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on EIG. Wall Street Zen upgraded Employers from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Employers in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Employers Trading Up 3.5%

Shares of NYSE EIG opened at $41.59 on Tuesday. The firm has a fifty day simple moving average of $43.49 and a two-hundred day simple moving average of $41.99. Employers has a 12 month low of $35.73 and a 12 month high of $52.28. The firm has a market capitalization of $934.94 million, a PE ratio of 126.03 and a beta of 0.57.

Employers (NYSE:EIG) last announced its earnings results on Thursday, February 19th. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.25. Employers had a net margin of 1.26% and a return on equity of 2.10%. The firm had revenue of $170.50 million for the quarter, compared to analyst estimates of $217.35 million. During the same quarter in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was down 21.3% compared to the same quarter last year. On average, sell-side analysts predict that Employers will post 3.63 earnings per share for the current year.

Insider Buying and Selling at Employers

In related news, EVP Michael Pedraja acquired 2,000 shares of Employers stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average price of $39.73 per share, with a total value of $79,460.00. Following the transaction, the executive vice president directly owned 19,830 shares in the company, valued at approximately $787,845.90. This represents a 11.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Employers

A number of institutional investors have recently modified their holdings of EIG. Boston Partners grew its position in Employers by 21.8% during the 2nd quarter. Boston Partners now owns 355,041 shares of the financial services provider’s stock valued at $16,252,000 after purchasing an additional 63,582 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Employers in the third quarter worth approximately $1,187,000. Carolina Wealth Advisors LLC grew its holdings in shares of Employers by 80.5% during the third quarter. Carolina Wealth Advisors LLC now owns 132,289 shares of the financial services provider’s stock valued at $5,620,000 after buying an additional 58,980 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Employers by 39.7% during the third quarter. Exchange Traded Concepts LLC now owns 66,116 shares of the financial services provider’s stock valued at $2,809,000 after acquiring an additional 18,793 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Employers in the 3rd quarter worth approximately $908,000. 80.49% of the stock is owned by hedge funds and other institutional investors.

Employers Company Profile

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.