Employers (NYSE:EIG) Issues Quarterly Earnings Results

Employers (NYSE:EIG) released its earnings results on Thursday. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.25, FiscalAI reports. Employers had a return on equity of 3.38% and a net margin of 6.91%.The firm had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $217.35 million.

Employers Price Performance

NYSE EIG traded up $0.38 during trading hours on Thursday, hitting $42.54. The company’s stock had a trading volume of 244,926 shares, compared to its average volume of 259,723. Employers has a 12 month low of $35.73 and a 12 month high of $52.28. The company’s 50 day simple moving average is $43.66 and its two-hundred day simple moving average is $42.00. The company has a market cap of $956.26 million, a P/E ratio of 16.81 and a beta of 0.57.

Institutional Investors Weigh In On Employers

A number of hedge funds have recently added to or reduced their stakes in EIG. Guggenheim Capital LLC bought a new position in Employers in the fourth quarter valued at about $316,000. Cetera Investment Advisers grew its stake in shares of Employers by 6.5% during the 4th quarter. Cetera Investment Advisers now owns 9,205 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 558 shares during the period. Brevan Howard Capital Management LP increased its position in shares of Employers by 53.1% during the 3rd quarter. Brevan Howard Capital Management LP now owns 9,343 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 3,239 shares during the last quarter. State of Wyoming increased its position in shares of Employers by 50.9% during the 2nd quarter. State of Wyoming now owns 6,832 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 2,304 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its stake in shares of Employers by 53.3% in the 2nd quarter. Engineers Gate Manager LP now owns 6,676 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 2,320 shares during the period. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EIG. Zacks Research raised Employers from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Weiss Ratings restated 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 MarketBeat, the company has a consensus rating of “Hold”.

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.