Employers (NYSE:EIG) Cut to “Hold” at StockNews.com

Employers (NYSE:EIG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, Truist Financial upped their price target on shares of Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, November 1st.

Employers Stock Up 1.0 %

Shares of EIG stock traded up $0.54 during trading hours on Wednesday, hitting $52.48. 118,701 shares of the company’s stock traded hands, compared to its average volume of 128,138. The stock has a market cap of $1.30 billion, a PE ratio of 9.83 and a beta of 0.26. The stock’s 50 day simple moving average is $50.83 and its 200 day simple moving average is $47.06. Employers has a 12 month low of $38.21 and a 12 month high of $54.44.

Employers (NYSE:EIG) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. Employers had a return on equity of 9.78% and a net margin of 15.27%. The firm had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. As a group, equities research analysts expect that Employers will post 3.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Employers

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Employers by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,103,051 shares of the financial services provider’s stock valued at $89,653,000 after purchasing an additional 13,889 shares in the last quarter. LSV Asset Management grew its holdings in shares of Employers by 33.5% in the second quarter. LSV Asset Management now owns 1,066,245 shares of the financial services provider’s stock valued at $45,454,000 after acquiring an additional 267,419 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Employers by 0.6% during the third quarter. Geode Capital Management LLC now owns 579,404 shares of the financial services provider’s stock valued at $27,800,000 after acquiring an additional 3,349 shares during the last quarter. American Century Companies Inc. lifted its holdings in Employers by 24.2% during the second quarter. American Century Companies Inc. now owns 458,722 shares of the financial services provider’s stock worth $19,555,000 after acquiring an additional 89,429 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Employers by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 418,784 shares of the financial services provider’s stock worth $20,089,000 after purchasing an additional 1,296 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

About Employers

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.