Employers (NYSE:EIG) Earns Hold Rating from Analysts at StockNews.com

Posted by Cynthia Vaughn on Mar 19th, 2023

StockNews.com began coverage on shares of Employers (NYSE:EIG – Get Rating) in a research report sent to investors on Thursday. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on the company. Truist Financial increased their target price on Employers from $52.00 to $53.00 and gave the company a buy rating in a research note on Tuesday, February 21st. Janney Montgomery Scott assumed coverage on Employers in a research note on Friday, February 24th. They issued a buy rating and a $50.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $51.50.

Employers Stock Down 4.0 %

EIG opened at $40.87 on Thursday. The stock has a market cap of $1.11 billion, a PE ratio of 22.96 and a beta of 0.24. Employers has a 52 week low of $32.58 and a 52 week high of $46.73. The business’s fifty day simple moving average is $43.08 and its 200 day simple moving average is $41.28.

Employers (NYSE:EIG – Get Rating) last released its earnings results on Friday, February 17th. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.49. The business had revenue of $221.80 million for the quarter, compared to analysts’ expectations of $197.02 million. Employers had a return on equity of 8.21% and a net margin of 6.78%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 earnings per share. As a group, equities analysts anticipate that Employers will post 3.1 earnings per share for the current year.

Employers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Tuesday, February 28th. Employers’s dividend payout ratio (DPR) is 58.43%.

Hedge Funds Weigh In On Employers

Several hedge funds and other institutional investors have recently modified their holdings of the company. Martingale Asset Management L P raised its stake in shares of Employers by 1.0% during the second quarter. Martingale Asset Management L P now owns 30,162 shares of the financial services provider’s stock valued at $1,265,000 after acquiring an additional 300 shares during the last quarter. US Bancorp DE raised its stake in shares of Employers by 31.6% during the third quarter. US Bancorp DE now owns 2,140 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 514 shares during the last quarter. Pathstone Family Office LLC raised its stake in shares of Employers by 3.7% during the fourth quarter. Pathstone Family Office LLC now owns 17,091 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 617 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Employers by 15.6% during the second quarter. Mutual of America Capital Management LLC now owns 4,659 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 629 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new position in Employers in the fourth quarter worth about $27,000. 78.14% of the stock is owned by institutional investors.

About Employers

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Employers Holdings, Inc engages in the provision of workers compensation products and services. It operates through following segments: Employers, Cerity, and Corporate and Others. The Employers segment includes traditional business offered under the EMPLOYERS brand name through agents. The Cerity segment operates under the Cerity brand name, which includes direct-to-customer business.