Employers (NYSE:EIG) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Employers Holdings Inc (NYSE:EIG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $44.83 and traded as high as $49.78. Employers shares last traded at $48.8980, with a volume of 103,710 shares traded.

Wall Street Analyst Weigh In

EIG has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Employers from $49.00 to $59.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wall Street Zen raised Employers from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings raised Employers from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 26th. Finally, Zacks Research downgraded shares of Employers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $59.00.

Employers Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.39 and a quick ratio of 0.39. The company’s 50-day moving average price is $49.62 and its two-hundred day moving average price is $44.85. The company has a market capitalization of $879.30 million, a price-to-earnings ratio of 70.96 and a beta of 0.47.

Employers (NYSE:EIG) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.13. Employers had a return on equity of 1.30% and a net margin of 0.91%.The company had revenue of $220.20 million for the quarter, compared to the consensus estimate of $203.51 million. During the same period in the previous year, the business earned $0.48 EPS. The firm’s revenue was down 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that Employers Holdings Inc will post 2.23 EPS for the current fiscal year.

Employers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, August 12th. Employers’s payout ratio is 197.10%.

Hedge Funds Weigh In On Employers

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Employers during the 2nd quarter valued at $130,258,000. California State Teachers Retirement System lifted its holdings in Employers by 4,783.0% during the second quarter. California State Teachers Retirement System now owns 1,104,300 shares of the financial services provider’s stock worth $55,745,000 after acquiring an additional 1,081,685 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Employers by 69.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 388,769 shares of the financial services provider’s stock worth $16,783,000 after buying an additional 159,956 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Employers by 126.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 329,479 shares of the financial services provider’s stock valued at $14,224,000 after acquiring an additional 183,828 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Employers by 27.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 300,567 shares of the financial services provider’s stock valued at $12,365,000 after purchasing an additional 65,100 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

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.