Brokerages predict that Employers Holdings, Inc. (NYSE:EIG) will post $163.51 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Employers’ earnings, with the highest sales estimate coming in at $166.02 million and the lowest estimate coming in at $161.00 million. Employers reported sales of $188.10 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 13.1%. The business is expected to announce its next quarterly earnings results on Thursday, April 22nd.
According to Zacks, analysts expect that Employers will report full-year sales of $664.25 million for the current year, with estimates ranging from $655.20 million to $673.29 million. For the next fiscal year, analysts expect that the business will post sales of $689.52 million, with estimates ranging from $676.90 million to $702.14 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Employers.
Employers (NYSE:EIG) last released its quarterly earnings data on Tuesday, February 16th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $0.41 by $1.05. The company had revenue of $191.10 million for the quarter, compared to the consensus estimate of $163.57 million. Employers had a return on equity of 5.85% and a net margin of 11.32%.
In related news, EVP Tracey Lynn Berg sold 8,500 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $37.51, for a total transaction of $318,835.00. Following the transaction, the executive vice president now directly owns 24,467 shares in the company, valued at approximately $917,757.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in Employers during the 4th quarter worth $18,132,000. Charles Schwab Investment Management Inc. grew its stake in Employers by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 533,274 shares of the financial services provider’s stock worth $17,167,000 after buying an additional 7,420 shares during the last quarter. Principal Financial Group Inc. grew its stake in Employers by 19.5% during the 4th quarter. Principal Financial Group Inc. now owns 250,539 shares of the financial services provider’s stock worth $8,065,000 after buying an additional 40,842 shares during the last quarter. Morgan Stanley grew its stake in Employers by 129.5% during the 4th quarter. Morgan Stanley now owns 172,750 shares of the financial services provider’s stock worth $5,561,000 after buying an additional 97,477 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Employers by 22.7% during the 4th quarter. Wells Fargo & Company MN now owns 134,489 shares of the financial services provider’s stock worth $4,329,000 after acquiring an additional 24,838 shares during the period. Hedge funds and other institutional investors own 79.13% of the company’s stock.
EIG opened at $40.32 on Friday. The stock’s fifty day moving average is $38.19 and its two-hundred day moving average is $33.60. The company has a market capitalization of $1.15 billion, a P/E ratio of 14.05 and a beta of -0.03. Employers has a 52 week low of $25.53 and a 52 week high of $43.66.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 17th. Stockholders of record on Wednesday, March 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.48%. Employers’s dividend payout ratio is presently 31.25%.
Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; alternative distribution channels; and national, regional, and local trade groups and associations, as well as directly to customers.
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