Employers (NYSE:EIG) Rating Lowered 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 report issued on Friday.

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

Employers Stock Performance

Shares of EIG stock opened at $50.81 on Friday. The stock has a fifty day simple moving average of $51.31 and a two-hundred day simple moving average of $47.55. The firm has a market capitalization of $1.26 billion, a PE ratio of 9.51 and a beta of 0.26. Employers has a 52-week low of $38.38 and a 52-week high of $54.44.

Employers (NYSE:EIG) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Employers had a net margin of 15.27% and a return on equity of 9.78%. The company had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. On average, sell-side analysts forecast that Employers will post 3.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Employers

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Employers by 45.5% in 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 last quarter. FMR LLC raised its holdings in shares of Employers by 15.2% in the third quarter. FMR LLC now owns 1,520 shares of the financial services provider’s stock worth $73,000 after buying an additional 200 shares during the period. Innealta Capital LLC bought a new stake in shares of Employers during the 2nd quarter worth approximately $81,000. Mackenzie Financial Corp purchased a new position in Employers during the 2nd quarter valued at $257,000. Finally, Intech Investment Management LLC bought a new position in Employers in the 2nd quarter valued at $257,000. Institutional investors own 80.49% of the company’s stock.

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.