Employers Stake, Inc. (EIG) Raised to “Purchase” at Zacks Investment Research

Employers Stake, Inc. (EIG) Raised to “Purchase” at Zacks Investment Research

Zacks Investment Research upgraded shares of Employers Holdings, Inc. (NYSE:EIG) from a hold rating to a buy rating in a research report sent to investors on Friday morning. Zacks Investment Research currently has $45.00 price target on the financial services provider’s stock.

According to Zacks, “Employers Holdings, Inc. is a specialty provider of workers compensation insurance focused on select small businesses engaged in low to medium hazard industries. It markets its products through independent local, regional, and national agents and brokers, as well as through its strategic partnerships and alliances and relationships with national, regional, and local trade groups and associations. Employers Holdings, Inc. is headquartered in Reno, Nevada. “

Employers Holdings (NYSE:EIG) opened at 39.90 on Friday. Employers Holdings has a one year low of $27.01 and a one year high of $41.95. The stock’s 50 day moving average is $39.71 and its 200 day moving average is $37.93. The company has a market capitalization of $1.29 billion, a PE ratio of 12.16 and a beta of 1.01.

Employers Holdings (NYSE:EIG) last released its earnings results on Wednesday, April 26th. The financial services provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.06. The firm had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $190.17 million. Employers Holdings had a net margin of 12.53% and a return on equity of 10.40%. On average, analysts anticipate that Employers Holdings will post $2.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Monday, May 8th. Employers Holdings’s payout ratio is currently 12.16%.

In related news, COO Stephen V. Festa sold 18,329 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $39.26, for a total transaction of $719,596.54. Following the sale, the chief operating officer now directly owns 19,542 shares in the company, valued at approximately $767,218.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in EIG. BlackRock Inc. boosted its stake in shares of Employers Holdings by 56,909.6% in the first quarter. BlackRock Inc. now owns 4,130,349 shares of the financial services provider’s stock worth $156,746,000 after buying an additional 4,123,104 shares during the last quarter. Norges Bank acquired a new stake in shares of Employers Holdings during the fourth quarter worth approximately $18,655,000. Principal Financial Group Inc. boosted its stake in shares of Employers Holdings by 138.0% in the third quarter. Principal Financial Group Inc. now owns 562,027 shares of the financial services provider’s stock worth $16,766,000 after buying an additional 325,877 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Employers Holdings by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,231,143 shares of the financial services provider’s stock worth $88,353,000 after buying an additional 156,203 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Employers Holdings by 5.6% in the first quarter. Vanguard Group Inc. now owns 2,797,847 shares of the financial services provider’s stock worth $106,177,000 after buying an additional 147,837 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

About Employers Holdings

Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “EIG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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