Employers (NYSE:EIG) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Employers Holdings Inc (NYSE:EIG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $41.61 and traded as high as $42.62. Employers shares last traded at $41.80, with a volume of 313,092 shares trading hands.

Analysts Set New Price Targets

EIG has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Employers in a research note on Monday, December 29th. Zacks Research raised shares of Employers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Finally, Wall Street Zen downgraded shares of Employers from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Employers Stock Performance

The stock’s 50-day moving average is $41.53 and its 200-day moving average is $41.61. The stock has a market cap of $814.26 million, a price-to-earnings ratio of 126.67 and a beta of 0.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.02.

Employers (NYSE:EIG) last posted its earnings results on Thursday, February 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.25. The firm had revenue of $170.50 million during the quarter, compared to the consensus estimate of $217.35 million. Employers had a net margin of 1.26% and a return on equity of 2.10%. The company’s revenue was down 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 EPS. On average, analysts expect that Employers Holdings Inc will post 3.63 EPS for the current year.

Employers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Wednesday, March 4th. Employers’s dividend payout ratio is currently 387.88%.

Insiders Place Their Bets

In other Employers news, insider Ann Marie Smith sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the completion of the transaction, the insider owned 8,704 shares in the company, valued at $341,980.16. This represents a 36.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Pedraja purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was bought at an average price of $39.73 per share, with a total value of $79,460.00. Following the acquisition, the executive vice president owned 19,830 shares in the company, valued at $787,845.90. This trade represents a 11.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Employers

Several institutional investors and hedge funds have recently made changes to their positions in EIG. Goldman Sachs Group Inc. boosted its stake in shares of Employers by 126.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 329,479 shares of the financial services provider’s stock valued at $14,224,000 after buying an additional 183,828 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Employers by 69.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 388,769 shares of the financial services provider’s stock valued at $16,783,000 after buying an additional 159,956 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Employers by 93.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 264,078 shares of the financial services provider’s stock valued at $12,459,000 after buying an additional 127,330 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Employers by 326.5% during the 3rd quarter. Bridgeway Capital Management LLC now owns 141,611 shares of the financial services provider’s stock valued at $6,016,000 after buying an additional 108,411 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Employers by 125.0% during the 3rd quarter. UBS Group AG now owns 181,341 shares of the financial services provider’s stock valued at $7,703,000 after buying an additional 100,751 shares during the last quarter. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

About Employers

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.