Employers Holdings Inc (EIG) Coverage Initiated by Analysts at Buckingham Research

Buckingham Research initiated coverage on shares of Employers Holdings Inc (NYSE:EIG) in a report issued on Monday, September 11th, Marketbeat.com reports. The brokerage set an “underperform” rating and a $36.00 price target on the financial services provider’s stock. Buckingham Research’s target price points to a potential downside of 20.79% from the stock’s previous close.

Several other research analysts have also recently weighed in on EIG. Zacks Investment Research cut shares of Employers Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, May 18th. ValuEngine upgraded shares of Employers Holdings from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded shares of Employers Holdings from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $42.00.

Shares of Employers Holdings (NYSE:EIG) traded down 0.33% during trading on Monday, hitting $45.45. The stock had a trading volume of 112,932 shares. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 14.07 and a beta of 1.10. The company’s 50 day moving average price is $41.88 and its 200 day moving average price is $40.66. Employers Holdings has a 52 week low of $29.25 and a 52 week high of $45.55.

Employers Holdings (NYSE:EIG) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company had revenue of $191.10 million for the quarter, compared to analysts’ expectations of $194.78 million. Employers Holdings had a net margin of 13.72% and a return on equity of 10.25%. Analysts predict that Employers Holdings will post $2.27 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of EIG. State of Alaska Department of Revenue boosted its stake in shares of Employers Holdings by 1.1% during the 1st quarter. State of Alaska Department of Revenue now owns 3,550 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 40 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Employers Holdings by 0.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 29,354 shares of the financial services provider’s stock worth $1,242,000 after purchasing an additional 80 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Employers Holdings by 1.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the financial services provider’s stock worth $497,000 after purchasing an additional 200 shares during the period. Legal & General Group Plc boosted its stake in shares of Employers Holdings by 0.4% during the 1st quarter. Legal & General Group Plc now owns 57,379 shares of the financial services provider’s stock worth $2,177,000 after purchasing an additional 225 shares during the period. Finally, Texas Permanent School Fund boosted its stake in shares of Employers Holdings by 1.3% during the 2nd quarter. Texas Permanent School Fund now owns 23,566 shares of the financial services provider’s stock worth $997,000 after purchasing an additional 292 shares during the period. Hedge funds and other institutional investors own 77.33% of the company’s stock.

About Employers Holdings

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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