Employers (NYSE:EIG) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Employers Holdings Inc (NYSE:EIG)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.42 and traded as high as $44.66. Employers shares last traded at $44.36, with a volume of 319,759 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Zacks Research raised Employers from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Employers in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Employers Price Performance

The firm has a market capitalization of $997.21 million, a price-to-earnings ratio of 17.53 and a beta of 0.58. The stock has a 50 day moving average price of $40.69 and a two-hundred day moving average price of $42.42.

Employers (NYSE:EIG) last announced its earnings results on Thursday, October 30th. The financial services provider reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.71). The firm had revenue of $239.30 million for the quarter, compared to analysts’ expectations of $216.60 million. Employers had a net margin of 6.91% and a return on equity of 3.38%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 earnings per share. As a group, research analysts expect that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were paid a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. Employers’s dividend payout ratio (DPR) is presently 50.59%.

Insider Buying and Selling at Employers

In other Employers news, EVP Michael Pedraja bought 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average cost of $37.09 per share, with a total value of $203,995.00. Following the purchase, the executive vice president directly owned 17,830 shares in the company, valued at approximately $661,314.70. This represents a 44.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Employers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its stake in shares of Employers by 133.5% in the second quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 363 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Employers in the second quarter valued at $39,000. GAMMA Investing LLC grew its stake in Employers by 35.7% during the 4th quarter. GAMMA Investing LLC now owns 1,561 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 411 shares in the last quarter. Versant Capital Management Inc grew its stake in Employers by 230.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,981 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 1,381 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Employers by 179.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,276 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 1,462 shares during the period. Hedge funds and other institutional investors own 80.49% of the company’s stock.

Employers Company Profile

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.