Employers Holdings Inc (EIG) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Employers Holdings Inc (NYSE:EIG) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “Employers Holdings, Inc. is a specialty provider of workers compensation insurance focused on select small businesses engaged in low to medium hazard industries. It markets its products through independent local, regional, and national agents and brokers, as well as through its strategic partnerships and alliances and relationships with national, regional, and local trade groups and associations. Employers Holdings, Inc. is headquartered in Reno, Nevada. “
Several other analysts have also recently issued reports on EIG. Buckingham Research assumed coverage on shares of Employers Holdings in a research report on Monday, September 11th. They set an underperform rating and a $36.00 price target on the stock. BidaskClub cut shares of Employers Holdings from a buy rating to a hold rating in a research report on Monday, July 31st. Finally, ValuEngine raised shares of Employers Holdings from a hold rating to a buy rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $41.00.
Employers Holdings (EIG) opened at 42.05 on Tuesday. Employers Holdings has a 52-week low of $29.25 and a 52-week high of $44.55. The firm’s 50-day moving average is $41.88 and its 200-day moving average is $40.66. The stock has a market cap of $1.36 billion, a P/E ratio of 13.02 and a beta of 1.10.
Employers Holdings (NYSE:EIG) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. Employers Holdings had a net margin of 13.72% and a return on equity of 10.25%. The company had revenue of $191.10 million for the quarter, compared to analysts’ expectations of $194.78 million. Equities research analysts predict that Employers Holdings will post $2.27 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were issued a $0.15 dividend. The ex-dividend date was Monday, August 7th. This represents a $0.60 annualized dividend and a yield of 1.43%. Employers Holdings’s dividend payout ratio (DPR) is 18.63%.
A number of large investors have recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Employers Holdings by 0.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 29,354 shares of the financial services provider’s stock valued at $1,242,000 after acquiring an additional 80 shares in the last quarter. Legal & General Group Plc raised its holdings in Employers Holdings by 0.4% in the first quarter. Legal & General Group Plc now owns 57,379 shares of the financial services provider’s stock valued at $2,177,000 after acquiring an additional 225 shares in the last quarter. Texas Permanent School Fund raised its holdings in Employers Holdings by 1.3% in the second quarter. Texas Permanent School Fund now owns 23,566 shares of the financial services provider’s stock valued at $997,000 after acquiring an additional 292 shares in the last quarter. Arizona State Retirement System raised its holdings in Employers Holdings by 1.8% in the first quarter. Arizona State Retirement System now owns 16,792 shares of the financial services provider’s stock valued at $637,000 after acquiring an additional 300 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its holdings in Employers Holdings by 1.0% in the second quarter. Aviance Capital Partners LLC now owns 45,765 shares of the financial services provider’s stock valued at $1,936,000 after acquiring an additional 448 shares in the last quarter. 77.33% of the stock is currently owned by hedge funds and other institutional investors.
About Employers Holdings
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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