Employers (NYSE:EIG) Stock Rating Lowered by StockNews.com

Employers (NYSE:EIG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, Truist Financial upped their price target on shares of Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, November 1st.

Employers Stock Up 0.5 %

Shares of NYSE:EIG opened at $50.81 on Friday. The business’s 50 day moving average is $51.31 and its 200 day moving average is $47.55. The stock has a market cap of $1.26 billion, a P/E ratio of 9.51 and a beta of 0.26. Employers has a 52-week low of $38.38 and a 52-week high of $54.44.

Employers (NYSE:EIG) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. Employers had a return on equity of 9.78% and a net margin of 15.27%. The firm had revenue of $224.00 million for the quarter, compared to analyst estimates of $225.19 million. On average, sell-side analysts anticipate that Employers will post 3.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Employers

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Employers by 45.5% during the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock valued at $55,000 after buying an additional 358 shares during the last quarter. FMR LLC lifted its position in Employers by 15.2% during the third quarter. FMR LLC now owns 1,520 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 200 shares during the last quarter. Innealta Capital LLC acquired a new stake in Employers in the second quarter valued at approximately $81,000. Mackenzie Financial Corp purchased a new position in Employers in the second quarter worth $257,000. Finally, Intech Investment Management LLC acquired a new position in shares of Employers during the second quarter worth $257,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.

About Employers

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers’ compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.