Employers (NYSE:EIG) Reaches New 12-Month High – Here’s Why

Employers Holdings Inc (NYSE:EIG) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $50.74 and last traded at $49.46, with a volume of 692142 shares changing hands. The stock had previously closed at $50.74.

Wall Street Analyst Weigh In

Several research analysts have commented on EIG shares. Wall Street Zen raised Employers from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings raised Employers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Finally, Zacks Research lowered Employers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Employers Stock Down 1.5%

The firm’s 50 day moving average price is $44.39 and its two-hundred day moving average price is $43.09. The firm has a market capitalization of $920.01 million, a PE ratio of 152.85 and a beta of 0.49. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.14.

Employers (NYSE:EIG) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). Employers had a return on equity of 1.10% and a net margin of 0.95%.The firm had revenue of $207.60 million for the quarter, compared to analysts’ expectations of $213.04 million. During the same period last year, the firm earned $0.87 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts forecast that Employers Holdings Inc will post 2.15 EPS for the current fiscal year.

Employers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.7%. This is a positive change from Employers’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, May 13th. Employers’s payout ratio is presently 412.12%.

Institutional Investors Weigh In On Employers

A number of hedge funds have recently bought and sold shares of the business. Azarias Capital Management L.P. acquired a new position in Employers during the 4th quarter worth $2,983,000. Legato Capital Management LLC raised its stake in shares of Employers by 230.7% in the 4th quarter. Legato Capital Management LLC now owns 34,479 shares of the financial services provider’s stock valued at $1,488,000 after purchasing an additional 24,053 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Employers by 719.3% during the fourth quarter. Intech Investment Management LLC now owns 95,115 shares of the financial services provider’s stock worth $4,106,000 after purchasing an additional 83,506 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Employers by 24.4% during the fourth quarter. Teacher Retirement System of Texas now owns 139,159 shares of the financial services provider’s stock worth $6,007,000 after purchasing an additional 27,299 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Employers in the fourth quarter worth about $1,606,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

About Employers

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.