Employers Holdings Inc (EIG) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Employers Holdings Inc (NYSE:EIG) from a hold rating to a buy rating in a report released on Friday morning. They currently have $48.00 price objective on the financial services provider’s stock.
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 recently issued reports about the company. BidaskClub cut Employers Holdings from a strong-buy rating to a buy rating in a research note on Thursday, June 22nd. Buckingham Research began coverage on Employers Holdings in a research note on Monday, September 11th. They set an underperform rating and a $36.00 target price for the company. Finally, ValuEngine upgraded Employers Holdings from a hold rating to a buy rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Employers Holdings presently has a consensus rating of Hold and a consensus target price of $42.00.
Shares of Employers Holdings (EIG) opened at 43.35 on Friday. The stock’s 50 day moving average is $41.88 and its 200 day moving average is $40.66. The stock has a market cap of $1.41 billion, a P/E ratio of 13.42 and a beta of 1.10. Employers Holdings has a 12 month low of $29.25 and a 12 month high of $44.55.
Employers Holdings (NYSE:EIG) last released its earnings results 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. The company had revenue of $191.10 million during the quarter, compared to analysts’ expectations of $194.78 million. Employers Holdings had a return on equity of 10.25% and a net margin of 13.72%. Analysts predict that Employers Holdings will post $2.27 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new position in Employers Holdings during the first quarter worth $101,000. Riverhead Capital Management LLC lifted its stake in Employers Holdings by 64.5% during the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 1,097 shares during the last quarter. Ifrah Financial Services Inc. bought a new position in Employers Holdings during the second quarter worth $205,000. Stifel Financial Corp bought a new position in Employers Holdings during the second quarter worth $214,000. Finally, First Allied Advisory Services Inc. bought a new position in Employers Holdings during the second quarter worth $215,000. Hedge funds and other institutional investors 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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