BidaskClub Downgrades Employers Holdings Inc (EIG) to Buy

BidaskClub downgraded shares of Employers Holdings Inc (NYSE:EIG) from a strong-buy rating to a buy rating in a research report released on Thursday, June 22nd.

Several other equities research analysts also recently weighed in on EIG. Zacks Investment Research upgraded Employers Holdings from a hold rating to a buy rating and set a $45.00 price target on the stock in a report on Monday, May 1st. ValuEngine upgraded Employers Holdings from a hold rating to a buy rating in a report on Friday, June 2nd.

Employers Holdings (NYSE:EIG) opened at 43.00 on Thursday. The company has a market capitalization of $1.39 billion, a PE ratio of 13.11 and a beta of 1.09. Employers Holdings has a 52-week low of $27.01 and a 52-week high of $43.75. The firm’s 50-day moving average is $41.92 and its 200-day moving average is $39.25.

Employers Holdings (NYSE:EIG) last posted its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. Employers Holdings had a return on equity of 9.83% and a net margin of 13.72%. The business had revenue of $196.30 million during the quarter, compared to analyst estimates of $190.17 million. On average, equities research analysts forecast that Employers Holdings will post $2.23 EPS for the current year.

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In other news, COO Stephen V. Festa sold 18,329 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $39.26, for a total value of $719,596.54. Following the completion of the sale, the chief operating officer now owns 19,542 shares of the company’s stock, valued at approximately $767,218.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas D. Dirks sold 83,890 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $41.93, for a total value of $3,517,507.70. Following the completion of the sale, the chief executive officer now directly owns 409,535 shares of the company’s stock, valued at approximately $17,171,802.55. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of EIG. Russell Investments Group Ltd. purchased a new stake in shares of Employers Holdings during the fourth quarter worth approximately $930,000. Comerica Bank boosted its stake in shares of Employers Holdings by 4.1% in the fourth quarter. Comerica Bank now owns 34,483 shares of the financial services provider’s stock worth $1,317,000 after buying an additional 1,352 shares in the last quarter. State Street Corp raised its position in Employers Holdings by 6.3% in the fourth quarter. State Street Corp now owns 712,870 shares of the financial services provider’s stock worth $28,233,000 after buying an additional 42,384 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Employers Holdings by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,231,143 shares of the financial services provider’s stock worth $88,353,000 after buying an additional 156,203 shares during the last quarter. Finally, Martingale Asset Management L P raised its position in Employers Holdings by 14.5% in the fourth quarter. Martingale Asset Management L P now owns 53,752 shares of the financial services provider’s stock worth $2,129,000 after buying an additional 6,800 shares during the last quarter. 77.66% of the stock is owned by institutional investors.

Employers Holdings Company Profile

Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.

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