Employers (NYSE:EIG) Hits New 52-Week High – Here’s What Happened

Employers Holdings Inc (NYSE:EIG)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $48.20 and last traded at $48.1520, with a volume of 43845 shares. The stock had previously closed at $46.52.

Wall Street Analyst Weigh In

Several brokerages recently commented on EIG. Weiss Ratings reiterated a “hold (c-)” rating on shares of Employers in a report on Friday, May 29th. Zacks Research lowered shares of Employers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Wall Street Zen raised shares of Employers from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Employers has a consensus rating of “Hold”.

Employers Trading Up 1.6%

The stock’s fifty day moving average price is $43.74 and its 200 day moving average price is $42.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $892.74 million, a P/E ratio of 148.32 and a beta of 0.49.

Employers (NYSE:EIG) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $207.60 million for the quarter, compared to the consensus estimate of $213.04 million. Employers had a net margin of 0.95% and a return on equity of 1.10%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. Research analysts forecast that Employers Holdings Inc will post 2.15 earnings per share for the current year.

Employers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.34 per share. This is a boost from Employers’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, May 13th. Employers’s payout ratio is presently 412.12%.

Institutional Trading of Employers

A number of large investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Employers by 32.8% during the 1st quarter. Royal Bank of Canada now owns 6,037 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 1,490 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Employers by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,685 shares of the financial services provider’s stock worth $744,000 after buying an additional 644 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Employers by 9.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 67,992 shares of the financial services provider’s stock worth $3,443,000 after buying an additional 5,696 shares during the period. Jane Street Group LLC grew its position in shares of Employers by 738.8% during the 1st quarter. Jane Street Group LLC now owns 40,448 shares of the financial services provider’s stock worth $2,048,000 after buying an additional 35,626 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Employers by 8.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 81,609 shares of the financial services provider’s stock worth $3,850,000 after buying an additional 6,410 shares in the last quarter. Hedge funds and other institutional investors own 80.49% of the company’s stock.

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.