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

Employers Holdings, Inc. (NYSE:EIG)’s share price 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 changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EIG shares. StockNews.com downgraded shares of Employers from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Truist Financial upped their price target on shares of Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, November 1st.

Employers Trading Up 0.1 %

The stock has a market cap of $1.20 billion, a P/E ratio of 9.12 and a beta of 0.26. The firm has a 50-day simple moving average of $51.81 and a two-hundred day simple moving average of $48.36.

Employers (NYSE:EIG) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Employers had a net margin of 15.27% and a return on equity of 9.78%. The firm had revenue of $224.00 million during the quarter, compared to the consensus estimate of $225.19 million. Sell-side analysts predict that Employers Holdings, Inc. will post 3.65 earnings per share for the current year.

Employers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.30 per share. 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 2.46%. Employers’s dividend payout ratio (DPR) is presently 22.47%.

Institutional Trading of Employers

Institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in Employers by 50.1% in the fourth quarter. Versant Capital Management Inc now owns 596 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 199 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Employers by 45.5% in the 3rd 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 in the last quarter. FMR LLC lifted its holdings in shares of 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 acquiring an additional 200 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Employers during the 2nd quarter worth approximately $257,000. Finally, Intech Investment Management LLC bought a new position in Employers in the second quarter valued at approximately $257,000. 80.49% of the stock is currently owned by institutional investors.

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.