Employers (EIG) Lifted to “Buy” at Zacks Investment Research

Employers (NYSE:EIG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $49.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.90% from the company’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 have also issued reports on EIG. SunTrust Banks reiterated a “buy” rating and set a $53.00 price target on shares of Employers in a research note on Friday, October 27th. ValuEngine downgraded Employers from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $46.00.

Shares of Employers (EIG) traded down $0.35 during trading hours on Monday, reaching $43.40. 56,856 shares of the company’s stock were exchanged, compared to its average volume of 95,571. The stock has a market capitalization of $1,410.00, a price-to-earnings ratio of 13.56 and a beta of 1.14. Employers has a one year low of $35.60 and a one year high of $50.45.

Employers (NYSE:EIG) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.08. The company had revenue of $210.50 million for the quarter, compared to analyst estimates of $193.04 million. Employers had a net margin of 13.32% and a return on equity of 10.39%. equities analysts predict that Employers will post 2.39 earnings per share for the current year.

In other news, EVP John P. Nelson sold 2,679 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $43.26, for a total transaction of $115,893.54. Following the completion of the transaction, the executive vice president now directly owns 16,977 shares of the company’s stock, valued at $734,425.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas D. Dirks sold 58,300 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $49.55, for a total value of $2,888,765.00. Following the transaction, the chief executive officer now directly owns 331,145 shares of the company’s stock, valued at $16,408,234.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,204 shares of company stock valued at $4,295,449. Corporate insiders own 3.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in EIG. Teachers Advisors LLC grew its position in shares of Employers by 342.9% during the second quarter. Teachers Advisors LLC now owns 243,804 shares of the financial services provider’s stock worth $10,313,000 after buying an additional 188,754 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Employers by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,442,581 shares of the financial services provider’s stock worth $103,322,000 after buying an additional 91,595 shares in the last quarter. State Street Corp grew its position in shares of Employers by 11.8% during the second quarter. State Street Corp now owns 857,434 shares of the financial services provider’s stock worth $36,267,000 after buying an additional 90,172 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Employers by 2.9% during the second quarter. Vanguard Group Inc. now owns 2,878,592 shares of the financial services provider’s stock worth $121,764,000 after buying an additional 80,745 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in Employers by 20.7% in 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 purchasing an additional 74,415 shares in the last quarter. 77.45% of the stock is owned by institutional investors and hedge funds.

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Employers 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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