Employers (NYSE:EIG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $49.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.73% from the stock’s current price.
According to Zacks, “Employers Holdings, Inc. is a specialty provider of workers compensation insurance focused on select small businesses engaged in low to medium hazard industries. It markets its products through independent local, regional, and national agents and brokers, as well as through its strategic partnerships and alliances and relationships with national, regional, and local trade groups and associations. Employers Holdings, Inc. is headquartered in Reno, Nevada. “
Separately, Boenning Scattergood upgraded Employers from a “neutral” rating to an “outperform” rating and set a $47.00 price objective on the stock in a report on Thursday, October 25th.
In other Employers news, EVP Lenard T. Ormsby sold 3,000 shares of Employers stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $42.29, for a total transaction of $126,870.00. Following the transaction, the executive vice president now owns 22,681 shares of the company’s stock, valued at approximately $959,179.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Lawrence S. Rogers sold 1,100 shares of Employers stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $45.40, for a total value of $49,940.00. Following the transaction, the senior vice president now directly owns 7,040 shares in the company, valued at approximately $319,616. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Employers by 27.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,555 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 547 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Employers in the 3rd quarter valued at approximately $136,000. First Citizens Bank & Trust Co. bought a new stake in shares of Employers in the 3rd quarter valued at approximately $209,000. Amalgamated Bank bought a new stake in shares of Employers in the 3rd quarter valued at approximately $212,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Employers in the 3rd quarter valued at approximately $225,000. 81.84% of the stock is currently owned by institutional investors.
Employers Company Profile
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; and alternative distribution channels comprising its partners, as well as through national, regional, and local trade groups and associations.
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