Zacks Investment Research Lowers Employers (EIG) to Hold

Employers (NYSE:EIG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, December 26th.

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. “

Several other brokerages also recently weighed in on EIG. SunTrust Banks reissued a “buy” rating and issued a $53.00 target price on shares of Employers in a research note on Friday, October 27th. Buckingham Research began coverage on shares of Employers in a research note on Monday, September 11th. They issued an “underperform” rating and a $36.00 target price for the company. Finally, ValuEngine downgraded shares of Employers from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $47.33.

Employers (NYSE:EIG) opened at $43.20 on Tuesday. Employers has a one year low of $35.60 and a one year high of $50.45. The firm has a market cap of $1,400.00, a PE ratio of 13.50 and a beta of 1.14.

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

In other news, EVP John P. Nelson sold 3,400 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $44.56, for a total transaction of $151,504.00. Following the completion of the transaction, the executive vice president now owns 20,377 shares of the company’s stock, valued at approximately $907,999.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John P. Nelson sold 12,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $46.79, for a total transaction of $561,480.00. Following the transaction, the executive vice president now directly owns 25,977 shares of the company’s stock, valued at approximately $1,215,463.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,525 shares of company stock valued at $4,050,555. Corporate insiders own 3.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. Dalton Greiner Hartman Maher & Co. grew its holdings in shares of Employers by 6.2% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 664,071 shares of the financial services provider’s stock worth $29,485,000 after purchasing an additional 38,910 shares during the period. California Public Employees Retirement System grew its holdings in shares of Employers by 8.5% during the 3rd quarter. California Public Employees Retirement System now owns 75,097 shares of the financial services provider’s stock worth $3,413,000 after purchasing an additional 5,897 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Employers during the 3rd quarter worth about $399,000. Allianz Asset Management GmbH grew its holdings in shares of Employers by 10.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 39,960 shares of the financial services provider’s stock worth $1,817,000 after purchasing an additional 3,883 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Employers by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,469,965 shares of the financial services provider’s stock worth $112,260,000 after purchasing an additional 27,384 shares during the period. Institutional investors and hedge funds own 77.37% of the company’s stock.

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About Employers

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.

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