Employers Holdings Inc (EIG) Rating Increased 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 report released on Friday. The brokerage currently has a $46.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.38% from the stock’s previous close.
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. “
EIG has been the topic of several other research reports. BidaskClub cut shares of Employers Holdings from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Buckingham Research started coverage on shares of Employers Holdings in a research report on Monday. They set an “underperform” rating and a $36.00 price target for the company. Finally, ValuEngine raised shares of Employers Holdings from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $41.00.
Shares of Employers Holdings (NYSE EIG) traded up 1.47% on Friday, reaching $41.30. 199,434 shares of the company traded hands. Employers Holdings has a one year low of $28.81 and a one year high of $44.55. The stock’s 50 day moving average price is $42.03 and its 200-day moving average price is $40.55. The stock has a market capitalization of $1.34 billion, a P/E ratio of 12.79 and a beta of 1.10.
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, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The business had revenue of $191.10 million for the quarter, compared to analysts’ expectations 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 $2.27 earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of Employers Holdings by 21.0% during the second quarter. Public Employees Retirement System of Ohio now owns 70,838 shares of the financial services provider’s stock valued at $2,996,000 after buying an additional 12,286 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Employers Holdings during the second quarter valued at $295,000. Sterling Capital Management LLC increased its stake in shares of Employers Holdings by 8.6% during the second quarter. Sterling Capital Management LLC now owns 33,377 shares of the financial services provider’s stock valued at $1,412,000 after buying an additional 2,655 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of Employers Holdings by 20.7% during the second quarter. Westwood Holdings Group Inc. now owns 433,061 shares of the financial services provider’s stock valued at $18,319,000 after buying an additional 74,415 shares during the period. Finally, Susquehanna International Group LLP purchased a new position in shares of Employers Holdings during the second quarter valued at $393,000. 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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