Employers Holdings, Inc. (EIG) Stock Rating Lowered by Zacks Investment Research
Employers Holdings, Inc. (NYSE:EIG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
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 equities research analysts also recently commented on EIG. ValuEngine raised shares of Employers Holdings from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub downgraded shares of Employers Holdings from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd.
Employers Holdings (NYSE:EIG) traded up 2.52% during trading on Friday, reaching $40.75. 52,183 shares of the company’s stock traded hands. The company has a market cap of $1.32 billion, a PE ratio of 12.62 and a beta of 1.10. Employers Holdings has a 12-month low of $28.81 and a 12-month high of $44.55. The company has a 50 day moving average price of $42.35 and a 200-day moving average price of $40.47.
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, beating the Zacks’ consensus estimate of $0.55 by $0.05. Employers Holdings had a net margin of 12.98% and a return on equity of 11.26%. The company had revenue of $191.10 million for the quarter, compared to the consensus estimate of $194.78 million. On average, equities research analysts forecast that Employers Holdings will post $2.30 EPS for the current fiscal year.
In other Employers Holdings 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 value of $3,517,507.70. Following the sale, the chief executive officer now directly owns 409,535 shares of the company’s stock, valued at approximately $17,171,802.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new position in shares of Employers Holdings in the 1st quarter valued at $101,000. Riverhead Capital Management LLC grew its position in shares of Employers Holdings by 64.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,097 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Employers Holdings by 1.1% in the 1st quarter. State of Alaska Department of Revenue now owns 3,550 shares of the financial services provider’s stock valued at $134,000 after buying an additional 40 shares during the last quarter. Ifrah Financial Services Inc. purchased a new position in shares of Employers Holdings in the 2nd quarter valued at $205,000. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Employers Holdings in the 2nd quarter valued at $215,000. 77.33% of the stock is currently 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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