Employers Holdings Inc. (NYSE:EIG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Employers Holdings, Inc. is a specialty provider of workers compensation insurance focused on select small businesses engaged in low to medium hazard industries. It markets its products through independent local, regional, and national agents and brokers, as well as through its strategic partnerships and alliances and relationships with national, regional, and local trade groups and associations. Employers Holdings, Inc. is headquartered in Reno, Nevada. “
Shares of Employers Holdings (NYSE:EIG) traded down 0.03% during trading on Tuesday, hitting $29.90. 182,048 shares of the company’s stock were exchanged. Employers Holdings has a 1-year low of $20.86 and a 1-year high of $32.03. The stock’s 50 day moving average is $29.47 and its 200 day moving average is $29.18. The firm has a market capitalization of $969.90 million, a PE ratio of 9.94 and a beta of 1.05.
Employers Holdings (NYSE:EIG) last released its earnings results on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. Employers Holdings had a net margin of 12.66% and a return on equity of 11.05%. The business had revenue of $201.80 million for the quarter, compared to the consensus estimate of $197.92 million. On average, equities research analysts forecast that Employers Holdings will post $2.11 earnings per share for the current year.
In other news, EVP Richard P. Hallman sold 16,588 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $27.71, for a total transaction of $459,653.48. Following the sale, the executive vice president now owns 30,342 shares in the company, valued at $840,776.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Stephen V. Festa sold 9,647 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $32.00, for a total transaction of $308,704.00. Following the sale, the chief operating officer now owns 48,669 shares in the company, valued at approximately $1,557,408. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in EIG. Victory Capital Management Inc. raised its stake in Employers Holdings by 42.5% in the second quarter. Victory Capital Management Inc. now owns 3,758 shares of the company’s stock worth $109,000 after buying an additional 1,120 shares in the last quarter. PineBridge Investments L.P. raised its stake in Employers Holdings by 4.5% in the second quarter. PineBridge Investments L.P. now owns 4,114 shares of the company’s stock worth $119,000 after buying an additional 178 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Employers Holdings by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,479 shares of the company’s stock worth $130,000 after buying an additional 538 shares in the last quarter. Sei Investments Co. raised its stake in Employers Holdings by 47.7% in the second quarter. Sei Investments Co. now owns 4,996 shares of the company’s stock worth $145,000 after buying an additional 1,614 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in Employers Holdings during the second quarter worth about $184,000. Institutional investors and hedge funds own 78.25% of the company’s stock.
About Employers Holdings
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. The Company provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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