Employers Holdings Inc (EIG) Receives New Coverage from Analysts at Buckingham Research
Buckingham Research initiated coverage on shares of Employers Holdings Inc (NYSE:EIG) in a research report report published on Monday. The brokerage issued an underperform rating and a $36.00 price target on the financial services provider’s stock.
A number of other research analysts have also recently issued reports on EIG. Zacks Investment Research cut shares of Employers Holdings from a buy rating to a hold rating in a research report on Thursday, May 18th. ValuEngine upgraded shares of Employers Holdings from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered shares of Employers Holdings from a strong-buy rating to a buy rating in a research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Employers Holdings presently has a consensus rating of Hold and a consensus target price of $40.50.
Shares of Employers Holdings (NYSE EIG) opened at 41.35 on Monday. The firm has a 50-day moving average of $42.31 and a 200-day moving average of $40.52. Employers Holdings has a 12 month low of $28.81 and a 12 month high of $44.55. The company has a market capitalization of $1.34 billion, a P/E ratio of 12.80 and a beta of 1.10.
Employers Holdings (NYSE:EIG) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $194.78 million. On average, equities analysts predict that Employers Holdings will post $2.30 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, August 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.45%. Employers Holdings’s dividend payout ratio is currently 18.63%.
A number of large investors have recently added to or reduced their stakes in EIG. Louisiana State Employees Retirement System increased its stake in Employers Holdings by 1.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 200 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Employers Holdings by 1.1% in the first quarter. State of Alaska Department of Revenue now owns 3,550 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 40 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Employers Holdings by 31.0% in the first quarter. Russell Investments Group Ltd. now owns 30,744 shares of the financial services provider’s stock worth $1,166,000 after acquiring an additional 7,270 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of Employers Holdings by 7.5% in the first quarter. Great West Life Assurance Co. Can now owns 47,395 shares of the financial services provider’s stock worth $1,796,000 after acquiring an additional 3,318 shares during the period. Finally, Comerica Bank grew its stake in shares of 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 acquiring an additional 1,135 shares during the period. Institutional investors and hedge funds own 77.33% 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.
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