Employers Holdings, Inc. (EIG) Raised 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 report issued to clients and investors on Monday. The firm presently has a $53.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.77% 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. “
Several other equities research analysts have also recently weighed in on EIG. BidaskClub cut Employers Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Buckingham Research started coverage on Employers Holdings in a research report on Monday, September 11th. They set an “underperform” rating and a $36.00 price target on the stock. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $53.00 price target on shares of Employers Holdings in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $47.33.
Employers Holdings (NYSE:EIG) traded down 1.57% during trading on Monday, reaching $47.00. 111,106 shares of the company’s stock traded hands. Employers Holdings has a 52-week low of $29.55 and a 52-week high of $47.75. The company’s 50 day moving average is $44.72 and its 200-day moving average is $42.26. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 14.55 and a beta of 1.12.
Employers Holdings (NYSE:EIG) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Employers Holdings had a return on equity of 9.67% and a net margin of 10.38%. The firm had revenue of $210.50 million for the quarter, compared to analysts’ expectations of $193.04 million. On average, analysts anticipate that Employers Holdings will post $2.30 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of Employers Holdings during the first quarter valued at about $101,000. Riverhead Capital Management LLC increased its position in shares of Employers Holdings by 64.5% during the second 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 period. State of Alaska Department of Revenue increased its position in shares of Employers Holdings by 1.1% during the first 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 period. Victory Capital Management Inc. increased its position in shares of Employers Holdings by 42.5% during the second quarter. Victory Capital Management Inc. now owns 3,758 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,120 shares during the period. Finally, PineBridge Investments L.P. increased its position in shares of Employers Holdings by 4.5% during the second quarter. PineBridge Investments L.P. now owns 4,114 shares of the financial services provider’s stock valued at $119,000 after buying an additional 178 shares during the period. Hedge funds and other institutional investors own 77.52% 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. 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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