Zacks: Employers Holdings Inc. (NYSE:EIG) Given $36.00 Average Target Price by Analysts
Shares of Employers Holdings Inc. (NYSE:EIG) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus price target of $36.00 for the company and are predicting that the company will post $0.52 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Employers Holdings an industry rank of 190 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research downgraded shares of Employers Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, August 1st.
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Employers Holdings (NYSE:EIG) traded up 2.04% during mid-day trading on Wednesday, hitting $30.01. The company’s stock had a trading volume of 46,878 shares. The firm has a 50 day moving average of $29.19 and a 200-day moving average of $29.11. The firm has a market cap of $973.46 million, a price-to-earnings ratio of 9.97 and a beta of 1.05. Employers Holdings has a 52-week low of $20.86 and a 52-week high of $32.03.
Employers Holdings (NYSE:EIG) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. Employers Holdings had a net margin of 12.66% and a return on equity of 11.05%. The company earned $201.80 million during the quarter, compared to the consensus estimate of $197.92 million. On average, equities research analysts expect that Employers Holdings will post $2.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, August 8th. Employers Holdings’s dividend payout ratio is currently 11.92%.
In related news, EVP Richard P. Hallman sold 16,588 shares of Employers Holdings stock in a transaction on Monday, August 1st. The shares were sold at an average price of $27.71, for a total value of $459,653.48. Following the transaction, the executive vice president now owns 30,342 shares in the company, valued at approximately $840,776.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stephen V. Festa sold 9,647 shares of Employers Holdings stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $32.00, for a total transaction of $308,704.00. Following the completion of the transaction, the chief operating officer now owns 48,669 shares in the company, valued at approximately $1,557,408. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Employers Holdings by 42.5% in the second quarter. Victory Capital Management Inc. now owns 3,758 shares of the company’s stock worth $109,000 after buying an additional 1,120 shares during the last quarter. PineBridge Investments L.P. boosted its position in shares of Employers Holdings by 4.5% in the second quarter. PineBridge Investments L.P. now owns 4,114 shares of the company’s stock worth $119,000 after buying an additional 178 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Employers Holdings by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,479 shares of the company’s stock worth $130,000 after buying an additional 538 shares during the last quarter. Sei Investments Co. boosted its position in shares of Employers Holdings by 47.7% in the second quarter. Sei Investments Co. now owns 4,996 shares of the company’s stock worth $145,000 after buying an additional 1,614 shares during the last quarter. Finally, Mason Street Advisors LLC acquired a new position in shares of Employers Holdings during the second quarter worth approximately $184,000. Institutional investors own 78.25% of the company’s stock.
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. The Company 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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