Employers (NYSE:EIG) Hits New 52-Week High – What’s Next?

Employers Holdings Inc (NYSE:EIG) hit a new 52-week high during trading on Monday . The stock traded as high as $51.93 and last traded at $51.6910, with a volume of 198042 shares. The stock had previously closed at $51.93.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EIG. Wall Street Zen upgraded Employers from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings raised shares of Employers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Finally, Zacks Research downgraded shares of Employers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Employers Stock Performance

The company has a fifty day moving average of $44.97 and a two-hundred day moving average of $43.30. The firm has a market capitalization of $938.63 million, a price-to-earnings ratio of 155.94 and a beta of 0.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.40 and a current ratio of 0.40.

Employers (NYSE:EIG) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $207.60 million during the quarter, compared to analyst estimates of $213.04 million. Employers had a net margin of 0.95% and a return on equity of 1.10%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 earnings per share. As a group, equities research analysts predict that Employers Holdings Inc will post 2.15 earnings per share for the current fiscal year.

Employers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. This is a boost from Employers’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, May 13th. Employers’s dividend payout ratio is currently 412.12%.

Hedge Funds Weigh In On Employers

A number of hedge funds have recently bought and sold shares of EIG. Azarias Capital Management L.P. bought a new stake in Employers in the 4th quarter valued at about $2,983,000. Legato Capital Management LLC grew its position in shares of Employers by 230.7% during the 4th quarter. Legato Capital Management LLC now owns 34,479 shares of the financial services provider’s stock worth $1,488,000 after purchasing an additional 24,053 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Employers by 719.3% during the fourth quarter. Intech Investment Management LLC now owns 95,115 shares of the financial services provider’s stock worth $4,106,000 after purchasing an additional 83,506 shares during the period. Teacher Retirement System of Texas raised its position in shares of Employers by 24.4% in the fourth quarter. Teacher Retirement System of Texas now owns 139,159 shares of the financial services provider’s stock valued at $6,007,000 after buying an additional 27,299 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Employers in the fourth quarter valued at approximately $1,606,000. 80.49% of the stock is owned by institutional investors.

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.