Employers (NYSE:EIG) Raised to Buy at StockNews.com

Employers (NYSE:EIG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other analysts also recently issued reports on the stock. JMP Securities raised shares of Employers to a “hold” rating in a report on Thursday, August 1st. Truist Financial upped their price target on shares of Employers from $55.00 to $58.00 and gave the company a “buy” rating in a report on Friday, November 1st.

Employers Price Performance

Shares of EIG stock opened at $49.04 on Monday. Employers has a fifty-two week low of $37.33 and a fifty-two week high of $50.00. The stock’s 50-day moving average is $48.00 and its two-hundred day moving average is $45.22. The firm has a market cap of $1.22 billion, a P/E ratio of 9.18 and a beta of 0.24.

Employers (NYSE:EIG) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $225.19 million. Employers had a net margin of 15.27% and a return on equity of 9.78%. As a group, research analysts expect that Employers will post 3.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in Employers by 81.2% during the first quarter. BNP Paribas Financial Markets now owns 13,171 shares of the financial services provider’s stock worth $598,000 after buying an additional 5,903 shares in the last quarter. Mutual of America Capital Management LLC acquired a new stake in shares of Employers during the 1st quarter worth approximately $201,000. Texas Permanent School Fund Corp grew its holdings in shares of Employers by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,511 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 292 shares in the last quarter. LSV Asset Management increased its position in shares of Employers by 58.9% during the first quarter. LSV Asset Management now owns 798,826 shares of the financial services provider’s stock valued at $36,259,000 after purchasing an additional 295,983 shares during the period. Finally, Inspire Advisors LLC raised its stake in shares of Employers by 32.8% in the first quarter. Inspire Advisors LLC now owns 27,953 shares of the financial services provider’s stock valued at $1,269,000 after purchasing an additional 6,905 shares in the last quarter. Institutional investors own 80.49% of the company’s stock.

About Employers

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers’ compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.