Employers (NYSE:EIG) Sets New 12-Month High – Here’s What Happened

Employers Holdings Inc (NYSE:EIG) shares hit a new 52-week high on Tuesday . The stock traded as high as $48.20 and last traded at $48.1520, with a volume of 43845 shares changing hands. The stock had previously closed at $46.52.

Wall Street Analyst Weigh In

EIG has been the topic of a number of analyst reports. Zacks Research cut shares of Employers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Employers in a report on Friday, May 29th. Finally, Wall Street Zen raised Employers from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Employers has an average rating of “Hold”.

Employers Stock Performance

The company’s 50-day moving average price is $43.47 and its 200 day moving average price is $42.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $875.70 million, a PE ratio of 145.45 and a beta of 0.49.

Employers (NYSE:EIG) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). Employers had a net margin of 0.95% and a return on equity of 1.10%. The company had revenue of $207.60 million for the quarter, compared to analysts’ expectations of $213.04 million. During the same quarter in the prior year, the firm earned $0.87 EPS. Employers’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that Employers Holdings Inc will post 2.15 earnings per share for the current fiscal year.

Employers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. This is an increase from Employers’s previous quarterly dividend of $0.32. Employers’s dividend payout ratio is currently 412.12%.

Institutional Investors Weigh In On Employers

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in Employers by 109.4% during the first quarter. Bank of America Corp DE now owns 57,725 shares of the financial services provider’s stock valued at $2,375,000 after buying an additional 30,154 shares during the period. Empowered Funds LLC grew its position in shares of Employers by 8.5% in the 1st quarter. Empowered Funds LLC now owns 101,322 shares of the financial services provider’s stock worth $4,168,000 after buying an additional 7,928 shares during the period. Quantinno Capital Management LP increased its stake in shares of Employers by 35.3% in the 1st quarter. Quantinno Capital Management LP now owns 17,670 shares of the financial services provider’s stock worth $727,000 after acquiring an additional 4,607 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Employers by 15.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 26,313 shares of the financial services provider’s stock worth $1,083,000 after acquiring an additional 3,453 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Employers by 27.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 300,567 shares of the financial services provider’s stock worth $12,365,000 after acquiring an additional 65,100 shares in the last quarter. 80.49% of the stock is currently owned by institutional investors.

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.