Employers (EIG) Cut to Buy at ValuEngine

ValuEngine lowered shares of Employers (NYSE:EIG) from a strong-buy rating to a buy rating in a research report report published on Friday.

Other analysts also recently issued research reports about the stock. Buckingham Research assumed coverage on shares of Employers in a report on Monday, September 11th. They issued an underperform rating and a $36.00 target price for the company. Zacks Investment Research downgraded shares of Employers from a buy rating to a hold rating in a report on Wednesday, August 16th. Finally, SunTrust Banks reiterated a buy rating and issued a $53.00 target price on shares of Employers in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $47.33.

Shares of Employers (NYSE:EIG) opened at $48.60 on Friday. The company has a market cap of $1,579.37, a PE ratio of 17.58 and a beta of 1.13. Employers has a 1-year low of $35.40 and a 1-year high of $50.45.

Employers (NYSE:EIG) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. The company had revenue of $210.50 million during the quarter, compared to the consensus estimate of $193.04 million. Employers had a net margin of 13.32% and a return on equity of 10.39%. analysts expect that Employers will post 2.39 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.23%. Employers’s dividend payout ratio is currently 18.81%.

In related news, CEO Douglas D. Dirks sold 58,300 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $49.55, for a total transaction of $2,888,765.00. Following the completion of the sale, the chief executive officer now owns 331,145 shares in the company, valued at $16,408,234.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of EIG. Teachers Advisors LLC increased its holdings in Employers by 2.6% during the first quarter. Teachers Advisors LLC now owns 55,050 shares of the financial services provider’s stock worth $2,089,000 after buying an additional 1,376 shares during the last quarter. Bank of America Corp DE increased its holdings in Employers by 95.3% during the first quarter. Bank of America Corp DE now owns 49,953 shares of the financial services provider’s stock worth $1,895,000 after buying an additional 24,377 shares during the last quarter. State Street Corp increased its holdings in Employers by 7.6% during the first quarter. State Street Corp now owns 767,262 shares of the financial services provider’s stock worth $29,122,000 after buying an additional 54,392 shares during the last quarter. Aperio Group LLC increased its holdings in Employers by 5.1% during the second quarter. Aperio Group LLC now owns 14,926 shares of the financial services provider’s stock worth $631,000 after buying an additional 726 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Employers by 25.0% during the second quarter. Russell Investments Group Ltd. now owns 38,418 shares of the financial services provider’s stock worth $1,625,000 after buying an additional 7,674 shares during the last quarter. Institutional investors and hedge funds own 77.40% of the company’s stock.

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Employers Company Profile

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. It 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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