Employers (NYSE:EIG) Announces Earnings Results

Employers (NYSE:EIG) issued its earnings results on Wednesday. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03, reports. The firm had revenue of $224.00 million during the quarter, compared to analyst estimates of $225.19 million. Employers had a net margin of 15.27% and a return on equity of 9.96%.

Employers Stock Performance

Employers stock traded down $0.91 during mid-day trading on Friday, reaching $47.81. 88,127 shares of the company were exchanged, compared to its average volume of 129,977. Employers has a 12-month low of $37.33 and a 12-month high of $50.00. The business has a fifty day moving average of $47.95 and a 200 day moving average of $45.11. The firm has a market cap of $1.19 billion, a P/E ratio of 8.95 and a beta of 0.24.

Employers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.51%. The ex-dividend date is Wednesday, November 13th. Employers’s payout ratio is 22.47%.

Analyst Ratings Changes

A number of brokerages have recently commented on EIG. Truist Financial raised their target price on shares of Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday. JMP Securities raised Employers to a “hold” rating in a research report on Thursday, August 1st.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EIG. Isthmus Partners LLC increased its holdings in shares of Employers by 0.5% during the second quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 375 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Employers during the 1st quarter valued at about $36,000. Bessemer Group Inc. raised its stake in shares of Employers by 983.8% in the first quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,033 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Employers by 45.5% during the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 358 shares during the period. Finally, Innealta Capital LLC purchased a new stake in Employers in the second quarter valued at approximately $81,000. 80.49% of the stock is owned by institutional investors.

Employers Company Profile

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers’ compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.