Employers (NYSE:EIG) Lowered to "Hold" Rating by StockNews.com

Employers (NYSE:EIG - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.

Separately, Truist Financial increased their price target on Employers from $55.00 to $58.00 and gave the company a "buy" rating in a report on Friday, November 1st.

Employers Stock Performance

Employers stock traded up $0.27 during midday trading on Friday, reaching $50.81. The stock had a trading volume of 665,634 shares, compared to its average volume of 130,617. The stock's 50-day simple moving average is $51.26 and its 200 day simple moving average is $47.45. Employers has a twelve month low of $38.38 and a twelve month high of $54.44. The stock has a market capitalization of $1.26 billion, a PE ratio of 9.51 and a beta of 0.26.

Employers (NYSE:EIG - Get Free Report) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.03. The business had revenue of $224.00 million during the quarter, compared to analysts' expectations of $225.19 million. Employers had a return on equity of 9.78% and a net margin of 15.27%. Equities analysts predict that Employers will post 3.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Employers

Large investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in Employers by 15.2% during the 3rd quarter. FMR LLC now owns 1,520 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 200 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Employers by 1.6% during the third quarter. HighTower Advisors LLC now owns 14,723 shares of the financial services provider's stock worth $708,000 after buying an additional 227 shares in 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 worth $351,000 after buying an additional 336 shares during the last quarter. GAMMA Investing LLC raised its holdings in Employers by 45.5% in the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 358 shares in the last quarter. Finally, Isthmus Partners LLC boosted its stake in Employers by 0.5% during the 2nd quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 375 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

About Employers

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.