Employers Holdings Inc (EIG) Upgraded 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 note issued to investors on Thursday. The brokerage currently has a $47.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.46% from the stock’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. “
A number of other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Employers Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. ValuEngine raised shares of Employers Holdings from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.
Employers Holdings (NYSE EIG) traded up 0.47% on Thursday, hitting $42.55. 103,248 shares of the company traded hands. The stock’s 50-day moving average is $42.94 and its 200 day moving average is $39.98. Employers Holdings has a 12 month low of $28.34 and a 12 month high of $44.55. The firm has a market capitalization of $1.38 billion, a P/E ratio of 13.17 and a beta of 1.09.
Employers Holdings (NYSE:EIG) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The firm had revenue of $191.10 million during the quarter, compared to the consensus estimate of $194.78 million. Employers Holdings had a net margin of 13.72% and a return on equity of 10.25%. Equities analysts forecast that Employers Holdings will post $2.30 EPS for the current fiscal year.
In related news, CEO Douglas D. Dirks sold 83,890 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $41.93, for a total transaction of $3,517,507.70. Following the completion of the sale, the chief executive officer now owns 409,535 shares of the company’s stock, valued at approximately $17,171,802.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in Employers Holdings by 21.0% in the second quarter. Public Employees Retirement System of Ohio now owns 70,838 shares of the financial services provider’s stock worth $2,996,000 after buying an additional 12,286 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in Employers Holdings during the second quarter worth about $295,000. Sterling Capital Management LLC increased its stake in Employers Holdings by 8.6% in the second quarter. Sterling Capital Management LLC now owns 33,377 shares of the financial services provider’s stock worth $1,412,000 after buying an additional 2,655 shares during the period. Westwood Holdings Group Inc. increased its stake in Employers Holdings by 20.7% in the second quarter. Westwood Holdings Group Inc. now owns 433,061 shares of the financial services provider’s stock worth $18,319,000 after buying an additional 74,415 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in Employers Holdings during the second quarter worth about $393,000. 77.36% of the stock is owned by hedge funds and other institutional investors.
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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