Employers (NYSE:EIG) Shares Gap Down – What’s Next?

Employers Holdings Inc (NYSE:EIG) gapped down before the market opened on Monday. The stock had previously closed at $49.08, but opened at $44.50. Employers shares last traded at $45.9350, with a volume of 16,613 shares traded.

Analyst Upgrades and Downgrades

EIG has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Employers in a research note on Tuesday, September 22nd. Truist Financial increased 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. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Employers presently has an average rating of “Hold” and a consensus price target of $59.00.

Employers Trading Up 3.0%

The company has a market capitalization of $833.92 million, a PE ratio of 17.76 and a beta of 0.50. The stock has a fifty day moving average of $49.40 and a two-hundred day moving average of $45.92. The company has a current ratio of 0.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.16.

Employers (NYSE:EIG) last announced its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.12. The company had revenue of $189.30 million during the quarter, compared to analysts’ expectations of $191.46 million. Employers had a net margin of 3.49% and a return on equity of 5.82%. During the same quarter in the prior year, the company earned ($1.10) EPS. As a group, sell-side analysts anticipate that Employers Holdings Inc will post 2.28 earnings per share for the current fiscal year.

Employers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.9%. Employers’s dividend payout ratio (DPR) is currently 80.47%.

Institutional Investors Weigh In On Employers

Institutional investors have recently modified their holdings of the business. Bessemer Group Inc. increased its holdings in Employers by 227.1% during the first quarter. Bessemer Group Inc. now owns 651 shares of the financial services provider’s stock valued at $27,000 after buying an additional 452 shares during the last quarter. Nykredit A S purchased a new stake in shares of Employers in the second quarter worth about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Employers during the 2nd quarter valued at approximately $35,000. Global Retirement Partners LLC purchased a new position in shares of Employers in the 2nd quarter worth $41,000. Finally, Fortitude Family Office LLC purchased a new stake in Employers during the 3rd quarter valued at $78,000. 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 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.