Employers Holdings Inc (EIG) Lowered to “Hold” at BidaskClub
BidaskClub cut shares of Employers Holdings Inc (NYSE:EIG) from a buy rating to a hold rating in a report issued on Monday.
A number of other research firms also recently commented on EIG. Zacks Investment Research upgraded Employers Holdings from a hold rating to a buy rating and set a $49.00 target price for the company in a research report on Monday. ValuEngine upgraded Employers Holdings from a hold rating to a buy rating in a research report on Friday, June 2nd.
Shares of Employers Holdings (NYSE:EIG) traded down 0.69% during mid-day trading on Monday, hitting $43.05. 108,954 shares of the stock were exchanged. The stock’s 50-day moving average is $42.66 and its 200-day moving average is $39.58. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.33 and a beta of 1.09. Employers Holdings has a 52 week low of $27.01 and a 52 week high of $44.55.
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 analysts’ consensus estimates of $0.55 by $0.05. The firm had revenue of $191.10 million during the quarter, compared to the consensus estimate of $194.78 million. Employers Holdings had a return on equity of 10.25% and a net margin of 13.72%. Analysts forecast that Employers Holdings will post $2.20 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.39%. Employers Holdings’s dividend payout ratio is currently 18.63%.
In other news, CEO Douglas D. Dirks sold 83,890 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $41.93, for a total transaction of $3,517,507.70. Following the completion of the transaction, the chief executive officer now directly owns 409,535 shares in the company, valued at approximately $17,171,802.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC increased its position in Employers Holdings by 1.0% in the first quarter. Parametric Portfolio Associates LLC now owns 123,864 shares of the financial services provider’s stock worth $4,701,000 after buying an additional 1,189 shares in the last quarter. Karp Capital Management Corp purchased a new position in Employers Holdings during the first quarter worth approximately $539,000. Ramsey Quantitative Systems purchased a new position in Employers Holdings during the first quarter worth approximately $525,000. UBS Asset Management Americas Inc. increased its position in Employers Holdings by 87.1% in the first quarter. UBS Asset Management Americas Inc. now owns 13,842 shares of the financial services provider’s stock worth $525,000 after buying an additional 6,443 shares in the last quarter. Finally, Comerica Bank increased its position in Employers Holdings by 3.3% in the first quarter. Comerica Bank now owns 35,618 shares of the financial services provider’s stock worth $1,410,000 after buying an additional 1,135 shares in the last quarter. Hedge funds and other institutional investors own 77.77% of the company’s stock.
Employers Holdings Company Profile
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.
Receive News & Stock Ratings for Employers Holdings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Employers Holdings Inc and related stocks with our FREE daily email newsletter.