Employers (NYSE:EIG) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Employers Holdings, Inc. (NYSE:EIG) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $48.36 and traded as high as $48.83. Employers shares last traded at $48.71, with a volume of 137,242 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EIG shares. StockNews.com cut shares of Employers from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Truist Financial boosted their price target on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st.

Employers Trading Down 2.5 %

The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 8.90 and a beta of 0.27. The stock’s 50-day moving average is $51.80 and its 200-day moving average is $48.40.

Employers (NYSE:EIG) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. Employers had a return on equity of 9.78% and a net margin of 15.27%. On average, equities research analysts anticipate that Employers Holdings, Inc. will post 3.65 EPS for the current fiscal year.

Employers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.52%. Employers’s dividend payout ratio (DPR) is presently 22.47%.

Hedge Funds Weigh In On Employers

Several institutional investors and hedge funds have recently added to or reduced their stakes in EIG. Versant Capital Management Inc grew its stake in shares of Employers by 50.1% in the fourth quarter. Versant Capital Management Inc now owns 596 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 199 shares during the last quarter. FMR LLC lifted its holdings in Employers by 15.2% during the 3rd quarter. FMR LLC now owns 1,520 shares of the financial services provider’s stock worth $73,000 after buying an additional 200 shares during the period. HighTower Advisors LLC grew its position in shares of Employers by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 14,723 shares of the financial services provider’s stock valued at $708,000 after buying an additional 227 shares during the last quarter. Inspire Investing LLC increased its stake in shares of Employers by 4.3% in the second quarter. Inspire Investing LLC now owns 8,225 shares of the financial services provider’s stock valued at $351,000 after buying an additional 336 shares during the period. Finally, GAMMA Investing LLC raised 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 worth $55,000 after acquiring an additional 358 shares during the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.

Employers Company Profile

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.