Employers (NYSE:EIG) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Employers (NYSE:EIG – Get Rating) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Janney Montgomery Scott assumed coverage on Employers in a research report on Friday, February 24th. They set a “buy” rating and a $50.00 price objective for the company. Truist Financial boosted their price objective on Employers from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Employers currently has an average rating of “Moderate Buy” and a consensus price target of $51.50.

Employers Stock Performance

EIG opened at $41.14 on Thursday. The company has a market cap of $1.12 billion, a PE ratio of 23.11 and a beta of 0.24. The stock has a 50-day moving average of $43.11 and a 200-day moving average of $41.25. Employers has a 52-week low of $32.58 and a 52-week high of $46.73.

Employers (NYSE:EIG – Get Rating) last released its quarterly earnings results on Friday, February 17th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.49. Employers had a return on equity of 8.21% and a net margin of 6.78%. The company had revenue of $221.80 million during the quarter, compared to the consensus estimate of $197.02 million. During the same quarter in the prior year, the company posted $1.06 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. On average, research analysts predict that Employers will post 3.1 earnings per share for the current year.

Hedge Funds Weigh In On Employers

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Employers by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,132,561 shares of the financial services provider’s stock valued at $128,497,000 after acquiring an additional 64,725 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Employers by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,184,038 shares of the financial services provider’s stock valued at $89,590,000 after acquiring an additional 6,685 shares in the last quarter. State Street Corp raised its holdings in Employers by 1.2% in the 2nd quarter. State Street Corp now owns 1,037,683 shares of the financial services provider’s stock valued at $43,469,000 after acquiring an additional 12,634 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Employers by 7.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 799,162 shares of the financial services provider’s stock valued at $34,468,000 after acquiring an additional 53,905 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Employers by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 501,499 shares of the financial services provider’s stock valued at $21,629,000 after acquiring an additional 20,951 shares in the last quarter. Institutional investors and hedge funds own 78.14% of the company’s stock.

Employers Company Profile

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Employers Holdings, Inc engages in the provision of workers compensation products and services. It operates through following segments: Employers, Cerity, and Corporate and Others. The Employers segment includes traditional business offered under the EMPLOYERS brand name through agents. The Cerity segment operates under the Cerity brand name, which includes direct-to-customer business.