Employers (NYSE:EIG) Posts Earnings Results, Beats Expectations By $0.25 EPS

Employers (NYSE:EIGGet Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.25, FiscalAI reports. The business had revenue of $170.50 million for the quarter, compared to analyst estimates of $217.35 million. Employers had a net margin of 6.91% and a return on equity of 3.38%.

Employers Price Performance

NYSE EIG traded up $0.38 during trading hours on Thursday, reaching $42.54. The company’s stock had a trading volume of 244,926 shares, compared to its average volume of 260,177. The firm has a fifty day simple moving average of $43.66 and a 200-day simple moving average of $42.00. The stock has a market cap of $956.26 million, a P/E ratio of 16.81 and a beta of 0.57. Employers has a 52 week low of $35.73 and a 52 week high of $52.28.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EIG. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Employers in a report on Monday, December 29th. Zacks Research raised Employers from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Read Our Latest Research Report on EIG

Hedge Funds Weigh In On Employers

A number of hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. increased its holdings in Employers by 133.5% in the second quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 363 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Employers by 179.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,276 shares of the financial services provider’s stock valued at $107,000 after buying an additional 1,462 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Employers by 26.8% in the second quarter. BNP Paribas Financial Markets now owns 2,718 shares of the financial services provider’s stock valued at $128,000 after buying an additional 575 shares during the period. Royal Bank of Canada raised its position in shares of Employers by 33.3% during the fourth quarter. Royal Bank of Canada now owns 3,186 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 796 shares during the last quarter. Finally, Virtus Advisers LLC bought a new position in shares of Employers during the third quarter worth about $254,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

Employers Company Profile

(Get Free Report)

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.

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Earnings History for Employers (NYSE:EIG)

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