Employers Holdings Inc (EIG) Cut to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Employers Holdings Inc (NYSE:EIG) from a buy rating to a hold rating in a research report released on Monday morning.
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. “
A number of other brokerages have also recently commented on EIG. ValuEngine raised Employers Holdings from a hold rating to a buy rating in a research note on Friday, June 2nd. BidaskClub cut Employers Holdings from a buy rating to a hold rating in a research note on Monday, July 31st. Finally, Buckingham Research initiated coverage on Employers Holdings in a research note on Monday, September 11th. They set an underperform rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $42.00.
Shares of Employers Holdings (EIG) opened at 45.55 on Monday. The company has a 50-day moving average price of $41.88 and a 200 day moving average price of $40.66. Employers Holdings has a 52 week low of $29.25 and a 52 week high of $45.90. The stock has a market capitalization of $1.48 billion, a P/E ratio of 14.10 and a beta of 1.10.
Employers Holdings (NYSE:EIG) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Employers Holdings had a return on equity of 10.25% and a net margin of 13.72%. The business had revenue of $191.10 million during the quarter, compared to analysts’ expectations of $194.78 million. Analysts forecast that Employers Holdings will post $2.27 earnings per share for the current fiscal year.
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Large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. acquired a new position in Employers Holdings in the first quarter valued at about $101,000. Riverhead Capital Management LLC grew its stake in Employers Holdings by 64.5% in the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 1,097 shares during the period. Ifrah Financial Services Inc. acquired a new position in Employers Holdings in the second quarter valued at about $205,000. First Allied Advisory Services Inc. acquired a new position in Employers Holdings in the second quarter valued at about $215,000. Finally, Stifel Financial Corp acquired a new position in Employers Holdings in the second quarter valued at about $214,000. 77.33% of the stock is owned by hedge funds and other 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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