SunTrust Banks, Inc. Reaffirms “Buy” Rating for Employers Holdings Inc (EIG)
SunTrust Banks, Inc. reiterated their buy rating on shares of Employers Holdings Inc (NYSE:EIG) in a research report sent to investors on Friday. The brokerage currently has a $53.00 price target on the financial services provider’s stock. SunTrust Banks also issued estimates for Employers Holdings’ FY2017 earnings at $2.39 EPS, Q1 2018 earnings at $0.55 EPS, Q2 2018 earnings at $0.62 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.59 EPS and FY2018 earnings at $2.40 EPS.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Employers Holdings from a hold rating to a buy rating and set a $46.00 price objective for the company in a research note on Friday, September 15th. BidaskClub lowered shares of Employers Holdings from a buy rating to a hold rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $45.67.
Shares of Employers Holdings (NYSE EIG) traded down 1.78% during midday trading on Friday, hitting $46.90. The company had a trading volume of 28,802 shares. Employers Holdings has a 12-month low of $29.55 and a 12-month high of $47.75. The company’s 50-day moving average price is $44.72 and its 200 day moving average price is $42.26. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 14.52 and a beta of 1.12.
Employers Holdings (NYSE:EIG) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. Employers Holdings had a net margin of 13.32% and a return on equity of 10.39%. The business had revenue of $210.50 million during the quarter, compared to analyst estimates of $193.04 million. Equities research analysts predict that Employers Holdings will post $2.30 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Tuesday, November 7th. Employers Holdings’s dividend payout ratio is currently 18.81%.
Several hedge funds and other institutional investors have recently bought and sold shares of EIG. BlackRock Inc. lifted its stake in Employers Holdings by 56,909.6% in the first quarter. BlackRock Inc. now owns 4,130,349 shares of the financial services provider’s stock worth $156,746,000 after purchasing an additional 4,123,104 shares during the last quarter. Vanguard Group Inc. lifted its stake in Employers Holdings by 2.9% in the second quarter. Vanguard Group Inc. now owns 2,878,592 shares of the financial services provider’s stock worth $121,764,000 after purchasing an additional 80,745 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Employers Holdings by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,442,581 shares of the financial services provider’s stock worth $103,322,000 after purchasing an additional 91,595 shares during the last quarter. Northern Trust Corp lifted its stake in Employers Holdings by 1.4% in the second quarter. Northern Trust Corp now owns 1,119,917 shares of the financial services provider’s stock worth $47,372,000 after purchasing an additional 15,825 shares during the last quarter. Finally, State Street Corp lifted its stake in Employers Holdings by 11.8% in the second quarter. State Street Corp now owns 857,434 shares of the financial services provider’s stock worth $36,267,000 after purchasing an additional 90,172 shares during the last quarter. 77.52% of the stock is owned by 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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