Employers (NYSE:EIG) Hits New 12-Month High – What’s Next?

Shares of Employers Holdings Inc (NYSE:EIG) reached a new 52-week high on Monday. The stock traded as high as $53.51 and last traded at $51.81, with a volume of 107,727 shares traded. The stock had previously closed at $52.08.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Truist Financial raised their price objective on Employers from $49.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Employers in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $59.00.

Employers Trading Up 0.1%

The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $49.33 and its 200 day moving average price is $47.33. The company has a market cap of $936.76 million, a price-to-earnings ratio of 76.33 and a beta of 0.46.

Employers (NYSE:EIG) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.13. The firm had revenue of $220.20 million for 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 business’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, equities analysts expect that Employers Holdings Inc will post 2.23 EPS for the current year.

Employers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $1.36 annualized dividend and a yield of 2.6%. Employers’s payout ratio is currently 197.10%.

Hedge Funds Weigh In On Employers

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Employers in the second quarter valued at $130,258,000. Arrowstreet Capital Limited Partnership grew its stake in Employers by 27.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 300,567 shares of the financial services provider’s stock valued at $12,365,000 after acquiring an additional 65,100 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Employers during the 2nd quarter valued at $6,135,000. Principal Financial Group Inc. increased its stake in Employers by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 109,252 shares of the financial services provider’s stock worth $4,495,000 after acquiring an additional 2,123 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Employers in the second quarter worth approximately $5,344,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.

About Employers

Employers Holdings, Inc (NYSE:EIG) is an insurance holding company specializing in workers’ compensation coverage for small and midsize businesses. Through its insurance subsidiaries, the company provides policies designed to cover workplace injuries, related medical expenses, rehabilitation, and wage-replacement benefits.

In addition to underwriting workers’ compensation insurance, Employers offers claims management, workplace-safety and loss-control services, risk-management resources, and policyholder support.