Employers (NYSE:EIG) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Employers Holdings Inc (NYSE:EIG) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.15 and traded as high as $43.97. Employers shares last traded at $43.68, with a volume of 183,331 shares.

Analysts Set New Price Targets

EIG has been the subject of several analyst reports. Zacks Research upgraded shares of Employers from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Employers in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Employers Price Performance

The firm has a fifty day simple moving average of $42.39 and a two-hundred day simple moving average of $42.15. The firm has a market capitalization of $981.93 million, a P/E ratio of 17.26 and a beta of 0.58.

Employers (NYSE:EIG) last issued its earnings results on Thursday, October 30th. The financial services provider reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($1.71). Employers had a net margin of 6.91% and a return on equity of 3.38%. The firm had revenue of $239.30 million during the quarter, compared to the consensus estimate of $216.60 million. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, research analysts anticipate that Employers Holdings Inc will post 3.63 EPS for the current year.

Insider Buying and Selling

In other Employers news, EVP Michael Pedraja bought 5,500 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $37.09 per share, for a total transaction of $203,995.00. Following the completion of the transaction, the executive vice president directly owned 17,830 shares of the company’s stock, valued at $661,314.70. This trade represents a 44.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Employers

A number of institutional investors have recently modified their holdings of EIG. Osaic Holdings Inc. grew its stake in Employers by 133.5% in the 2nd quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock valued at $30,000 after buying an additional 363 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Employers in the second quarter worth $39,000. GAMMA Investing LLC boosted its holdings in shares of Employers by 35.7% in the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 411 shares during the period. Versant Capital Management Inc grew its position in shares of Employers by 230.2% in the third quarter. Versant Capital Management Inc now owns 1,981 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 1,381 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Employers by 179.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,276 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 1,462 shares during the period. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

About Employers

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.