Employers (NYSE:EIG) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Employers Holdings, Inc. (NYSE:EIG - Get Free Report)'s stock 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 trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com cut Employers from a "buy" rating to a "hold" rating in a research report on Friday, December 20th. Truist Financial upped their target price 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 Stock Down 2.5 %

The firm has a market cap of $1.17 billion, a P/E ratio of 8.90 and a beta of 0.26. The firm's 50-day moving average price is $51.81 and its 200 day moving average price is $48.37.

Employers (NYSE:EIG - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $225.19 million. On average, equities analysts predict that Employers Holdings, Inc. will post 3.65 earnings per share for the current year.

Employers Announces Dividend

The firm also recently announced 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 was Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 2.52%. Employers's dividend payout ratio (DPR) is presently 22.47%.

Institutional Investors Weigh In On Employers

A number of institutional investors have recently modified their holdings of EIG. Versant Capital Management Inc increased its holdings in Employers by 50.1% in the fourth quarter. Versant Capital Management Inc now owns 596 shares of the financial services provider's stock worth $31,000 after buying an additional 199 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Employers by 45.5% during the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 358 shares in the last quarter. FMR LLC increased its position 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 purchasing an additional 200 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Employers in the second quarter worth $257,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Employers in the 2nd quarter valued at $257,000. Institutional investors and hedge funds own 80.49% of the company's stock.

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.