StockNews.com cut shares of Employers (NYSE:EIG – Free Report) from a buy rating to a hold rating in a research report report published on Friday morning.
Separately, Truist Financial increased their price target on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, November 1st.
Get Our Latest Research Report on EIG
Employers Stock Up 0.5 %
Employers (NYSE:EIG – Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share 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 business had revenue of $224.00 million during the quarter, compared to the consensus estimate of $225.19 million. On average, sell-side analysts anticipate that Employers will post 3.65 earnings per share for the current fiscal year.
Employers Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.30 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.36%. Employers’s payout ratio is 22.47%.
Hedge Funds Weigh In On Employers
A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Employers by 45.5% during the 3rd 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. FMR LLC boosted 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 worth $73,000 after purchasing an additional 200 shares during the period. Innealta Capital LLC acquired a new position in shares of Employers in the second quarter valued at $81,000. Mackenzie Financial Corp bought a new position in shares of Employers in the second quarter valued at about $257,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Employers during the 2nd quarter worth about $257,000. Institutional investors and hedge funds own 80.49% of the company’s stock.
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.
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