Employers (NYSE:EIG) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Employers Holdings Inc (NYSE:EIG) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.15 and traded as high as $43.97. Employers shares last traded at $43.68, with a volume of 183,331 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on EIG. Zacks Research raised Employers from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Employers in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Employers Stock Up 0.4%

The company’s 50-day moving average is $42.39 and its two-hundred day moving average is $42.15. The company has a market capitalization of $981.93 million, a P/E ratio of 17.26 and a beta of 0.58.

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

Insider Activity

In related news, EVP Michael Pedraja acquired 5,500 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average cost of $37.09 per share, with a total value of $203,995.00. Following the acquisition, the executive vice president owned 17,830 shares of the company’s stock, valued at approximately $661,314.70. The trade was a 44.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Employers

A number of large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its stake in Employers by 133.5% during the second quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 363 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Employers during the 2nd quarter valued at about $39,000. GAMMA Investing LLC raised its holdings 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 buying an additional 411 shares in the last quarter. Versant Capital Management Inc raised 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 valued at $84,000 after buying an additional 1,381 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Employers by 179.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,276 shares of the financial services provider’s stock worth $107,000 after buying an additional 1,462 shares during the last quarter. 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.