SunTrust Banks Comments on Employers Holdings, Inc.’s FY2018 Earnings (EIG)

Employers Holdings, Inc. (NYSE:EIG) – Equities research analysts at SunTrust Banks lifted their FY2018 earnings per share (EPS) estimates for shares of Employers in a report issued on Thursday. SunTrust Banks analyst M. Hughes now forecasts that the financial services provider will post earnings per share of $2.75 for the year, up from their prior forecast of $2.40. SunTrust Banks currently has a “Buy” rating and a $53.00 target price on the stock.

Employers (NYSE:EIG) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.08. Employers had a net margin of 13.32% and a return on equity of 10.39%. The firm had revenue of $210.50 million for the quarter, compared to the consensus estimate of $193.04 million.

EIG has been the topic of a number of other reports. ValuEngine downgraded shares of Employers from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Employers from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Employers has a consensus rating of “Hold” and a consensus target price of $47.33.

Shares of Employers (NYSE EIG) traded up $0.80 on Monday, reaching $43.75. 135,900 shares of the company were exchanged, compared to its average volume of 98,554. Employers has a 52-week low of $35.60 and a 52-week high of $50.45. The stock has a market capitalization of $1,430.00, a P/E ratio of 13.67 and a beta of 1.14.

Institutional investors have recently modified their holdings of the company. Riverhead Capital Management LLC boosted its holdings in shares of Employers 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. First Allied Advisory Services Inc. bought a new position in Employers in the second quarter valued at about $215,000. Stifel Financial Corp bought a new position in Employers in the second quarter valued at about $214,000. Piedmont Investment Advisors LLC bought a new position in Employers in the second quarter valued at about $295,000. Finally, Crossmark Global Holdings Inc. bought a new position in Employers in the third quarter valued at about $374,000. Institutional investors and hedge funds own 77.45% of the company’s stock.

In other Employers news, EVP John P. Nelson sold 3,000 shares of Employers stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $43.00, for a total value of $129,000.00. Following the completion of the sale, the executive vice president now directly owns 16,977 shares in the company, valued at $730,011. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John P. Nelson sold 2,679 shares of Employers stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $43.26, for a total transaction of $115,893.54. Following the completion of the sale, the executive vice president now owns 16,977 shares of the company’s stock, valued at $734,425.02. The disclosure for this sale can be found here. Insiders sold 89,204 shares of company stock valued at $4,295,449 over the last quarter. Corporate insiders own 3.50% of the company’s stock.

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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.

Earnings History and Estimates for Employers (NYSE:EIG)

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