Employers Holdings Inc (NYSE:EIG – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.93 and last traded at $51.6910, with a volume of 198042 shares changing hands. The stock had previously closed at $51.93.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on EIG shares. Wall Street Zen upgraded shares of Employers from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Zacks Research lowered Employers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded Employers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Employers currently has an average rating of “Hold”.
Read Our Latest Research Report on EIG
Employers Stock Down 0.9%
Employers (NYSE:EIG – Get Free Report) last released its earnings results on Wednesday, April 29th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $207.60 million during the quarter, compared to the consensus estimate of $213.04 million. Employers had a net margin of 0.95% and a return on equity of 1.10%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. On average, sell-side analysts predict that Employers Holdings Inc will post 2.15 earnings per share for the current fiscal year.
Employers Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, May 13th. This is a boost from Employers’s previous quarterly dividend of $0.32. Employers’s payout ratio is currently 412.12%.
Hedge Funds Weigh In On Employers
A number of institutional investors have recently added to or reduced their stakes in the company. Aquatic Capital Management LLC lifted its stake in Employers by 1.2% in the third quarter. Aquatic Capital Management LLC now owns 22,623 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 277 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Employers by 1.3% in the 4th quarter. Deutsche Bank AG now owns 24,084 shares of the financial services provider’s stock valued at $1,040,000 after purchasing an additional 302 shares during the period. Osaic Holdings Inc. lifted its stake in Employers by 133.5% in the 2nd 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 last quarter. Clearstead Advisors LLC grew its holdings in Employers by 145.5% during the fourth quarter. Clearstead Advisors LLC now owns 621 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 368 shares during the period. Finally, GAMMA Investing LLC increased its position in Employers by 35.7% during the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the financial services provider’s stock worth $67,000 after buying an additional 411 shares during the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.
Employers Company Profile
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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