Employers Holdings Inc (EIG) Lifted to Buy at Zacks Investment Research
Employers Holdings Inc (NYSE:EIG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $46.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.38% from the company’s current price.
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. “
Other equities analysts have also issued research reports about the stock. BidaskClub lowered shares of Employers Holdings from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Buckingham Research began coverage on shares of Employers Holdings in a research report on Monday. They set an “underperform” rating and a $36.00 price objective for the company. Finally, ValuEngine upgraded shares of Employers Holdings from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $41.00.
Shares of Employers Holdings (EIG) traded up 1.47% during trading on Friday, reaching $41.30. 199,434 shares of the company were exchanged. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.79 and a beta of 1.10. The stock’s 50 day moving average is $42.03 and its 200 day moving average is $40.55. Employers Holdings has a 1-year low of $28.81 and a 1-year high of $44.55.
Employers Holdings (NYSE:EIG) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $191.10 million during the quarter, compared to analyst estimates of $194.78 million. Equities analysts anticipate that Employers Holdings will post $2.27 earnings per share for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Aviance Capital Partners LLC raised its stake in shares of 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 during the period. Vanguard Group Inc. raised its stake in shares of Employers Holdings by 5.6% in the first quarter. Vanguard Group Inc. now owns 2,797,847 shares of the financial services provider’s stock valued at $106,177,000 after acquiring an additional 147,837 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Employers Holdings by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,350,986 shares of the financial services provider’s stock valued at $89,220,000 after acquiring an additional 119,843 shares during the period. Victory Capital Management Inc. raised its stake in shares of Employers Holdings by 25.3% in the first quarter. Victory Capital Management Inc. now owns 5,768 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 1,163 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of Employers Holdings by 20.5% in the first quarter. OppenheimerFunds Inc. now owns 15,748 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 2,677 shares during the period. 77.33% of the stock is currently owned by institutional investors and hedge funds.
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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