Employers (NYSE:EIG) Rating Lowered to Sell at Wall Street Zen

Employers (NYSE:EIG) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other brokerages have also recently commented on EIG. Weiss Ratings reissued a “hold (c-)” rating on shares of Employers in a research note on Monday, December 29th. Zacks Research upgraded shares of Employers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy”.

Employers Stock Performance

Shares of EIG stock opened at $40.43 on Friday. The stock has a fifty day moving average price of $43.28 and a 200 day moving average price of $41.96. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $787.58 million, a PE ratio of 122.52 and a beta of 0.57. Employers has a 1 year low of $35.73 and a 1 year high of $51.48.

Employers (NYSE:EIG) last posted its earnings results on Thursday, February 19th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.25. Employers had a return on equity of 2.10% and a net margin of 1.26%.The company had revenue of $170.50 million for the quarter, compared to analyst estimates of $217.35 million. During the same quarter in the prior year, the company earned $1.15 earnings per share. Employers’s revenue was down 21.3% compared to the same quarter last year. Sell-side analysts forecast that Employers will post 3.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Employers news, EVP Michael Pedraja purchased 2,000 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was bought at an average cost of $39.73 per share, for a total transaction of $79,460.00. Following the acquisition, the executive vice president owned 19,830 shares of the company’s stock, valued at approximately $787,845.90. The trade was a 11.22% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Employers

Institutional investors have recently added to or reduced their stakes in the business. Clearstead Advisors LLC lifted its position in Employers by 145.5% during the fourth quarter. Clearstead Advisors LLC now owns 621 shares of the financial services provider’s stock worth $27,000 after buying an additional 368 shares during the period. Osaic Holdings Inc. grew its holdings in Employers by 133.5% in the 2nd quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock valued at $30,000 after buying an additional 363 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of Employers during the 2nd quarter valued at about $39,000. GAMMA Investing LLC increased its stake in shares of Employers by 35.7% during the 4th quarter. GAMMA Investing LLC now owns 1,561 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 411 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of 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 acquiring an additional 1,381 shares during the period. 80.49% of the stock is currently owned by institutional investors and hedge funds.

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.