Employers (NYSE:EIG) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Employers Holdings Inc (NYSE:EIG)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.04 and traded as high as $45.43. Employers shares last traded at $43.8450, with a volume of 143,446 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Employers from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Employers in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Employers Trading Down 3.6%

The firm’s 50-day simple moving average is $43.23 and its 200 day simple moving average is $42.04. The stock has a market cap of $985.64 million, a P/E ratio of 17.33 and a beta of 0.57.

Hedge Funds Weigh In On Employers

Several hedge funds have recently modified their holdings of the company. Clearstead Advisors LLC lifted its position in shares of Employers by 145.5% in the 4th quarter. Clearstead Advisors LLC now owns 621 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 368 shares in the last quarter. Osaic Holdings Inc. grew its position in Employers by 133.5% during the 2nd quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 363 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Employers during the 2nd quarter valued at $39,000. GAMMA Investing LLC lifted 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 valued at $67,000 after purchasing an additional 411 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings 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. 80.49% of the stock is currently owned by institutional investors and hedge funds.

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.