Employers (NYSE:EIG) Stock Price Breaks Above 200-Day Moving Average – Here’s Why

Employers Holdings Inc (NYSE:EIG)’s stock price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $46.58 and traded as high as $50.62. Employers shares last traded at $49.4250, with a volume of 182,343 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EIG. Truist Financial boosted their price objective on Employers from $49.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wall Street Zen raised Employers from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Employers in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.00.

Employers Trading Down 1.3%

The stock’s fifty day moving average is $49.01 and its 200 day moving average is $46.58. The stock has a market cap of $887.67 million, a P/E ratio of 71.63 and a beta of 0.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.39 and a current ratio of 0.39.

Employers (NYSE:EIG) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.13. The business had revenue of $220.20 million during the quarter, compared to the consensus estimate of $203.51 million. Employers had a net margin of 0.91% and a return on equity of 1.30%. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. As a group, equities research analysts predict that Employers Holdings Inc will post 2.23 earnings per share for the current fiscal year.

Employers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Wednesday, August 12th. Employers’s dividend payout ratio (DPR) is currently 197.10%.

Institutional Trading of Employers

Several large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its position in shares of Employers by 22.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,672 shares of the financial services provider’s stock worth $80,000 after buying an additional 311 shares during the period. GAMMA Investing LLC grew its stake in Employers by 8.8% in the third quarter. GAMMA Investing LLC now owns 5,035 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 407 shares during the period. Bessemer Group Inc. boosted its stake in Employers by 227.1% in the 1st quarter. Bessemer Group Inc. now owns 651 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 452 shares during the period. Nykredit A S acquired a new position in Employers during the second quarter worth $30,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Employers during the 2nd quarter worth approximately $35,000. 80.49% of the stock is owned by hedge funds and other institutional investors.

Employers Company Profile

Employers Holdings, Inc (NYSE:EIG) is an insurance holding company that specializes in workers’ compensation coverage for small and midsize businesses. Through its insurance subsidiaries, the company provides policies that help employers cover medical expenses, wage replacement, and other costs associated with workplace injuries.

The company focuses primarily on small businesses in lower- to moderate-hazard industries, including retail, professional services, hospitality, construction, and other commercial sectors.