Employers (NYSE:EIG) Downgraded by Wall Street Zen to Sell

Employers (NYSE:EIG) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Employers Trading Up 0.0%

Shares of EIG opened at $41.18 on Friday. The company has a market capitalization of $968.02 million, a PE ratio of 10.04 and a beta of 0.52. Employers has a 12 month low of $38.19 and a 12 month high of $54.44. The stock’s 50-day moving average price is $45.92 and its two-hundred day moving average price is $48.06.

Employers (NYSE:EIG) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.46). The company had revenue of $246.30 million for the quarter, compared to analyst estimates of $217.17 million. Employers had a return on equity of 7.56% and a net margin of 11.37%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. Equities research analysts predict that Employers will post 3.63 EPS for the current fiscal year.

Insider Buying and Selling at Employers

In other news, EVP John M. Mutschink sold 2,000 shares of Employers stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $49.12, for a total value of $98,240.00. Following the completion of the transaction, the executive vice president directly owned 19,789 shares of the company’s stock, valued at approximately $972,035.68. This trade represents a 9.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EIG. JPMorgan Chase & Co. raised its position in shares of Employers by 158.7% in the 4th quarter. JPMorgan Chase & Co. now owns 205,698 shares of the financial services provider’s stock worth $10,538,000 after acquiring an additional 126,186 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Employers by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 14,513 shares of the financial services provider’s stock worth $743,000 after acquiring an additional 3,159 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Employers by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 66,078 shares of the financial services provider’s stock worth $3,385,000 after acquiring an additional 2,759 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Employers in the 4th quarter worth about $244,000. Finally, Renaissance Technologies LLC raised its position in shares of Employers by 9.5% in the 4th quarter. Renaissance Technologies LLC now owns 278,400 shares of the financial services provider’s stock worth $14,262,000 after acquiring an additional 24,100 shares in the last quarter. 80.49% of the stock is owned by institutional investors.

Employers Company Profile

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers’ compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.