Employers (NYSE:EIG) Sets New 1-Year High – Still a Buy?

Employers Holdings Inc (NYSE:EIG) shares hit a new 52-week high during trading on Monday . The stock traded as high as $50.74 and last traded at $49.46, with a volume of 692142 shares traded. The stock had previously closed at $50.74.

Analyst Ratings Changes

A number of equities research analysts have commented on EIG shares. Weiss Ratings upgraded Employers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Wall Street Zen upgraded Employers from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Zacks Research lowered Employers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Employers Trading Down 2.3%

The firm’s 50-day moving average price is $44.04 and its 200 day moving average price is $42.94. The company has a market cap of $904.43 million, a price-to-earnings ratio of 150.33 and a beta of 0.49. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.14.

Employers (NYSE:EIG) last announced 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 company’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. As a group, equities analysts expect that Employers Holdings Inc will post 2.15 EPS for the current year.

Employers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This is a positive change from Employers’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 2.7%. Employers’s payout ratio is presently 412.12%.

Institutional Investors Weigh In On Employers

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

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.