Employers (NYSE:EIG) Stock Crosses Above 200-Day Moving Average - What's Next?

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 changing hands.

Analysts Set New Price Targets

Several research firms recently commented on EIG. Truist Financial upped their price objective on Employers from $55.00 to $58.00 and gave the stock a "buy" rating in a report on Friday, November 1st. StockNews.com cut Employers from a "buy" rating to a "hold" rating in a report on Friday, December 20th.

Employers Trading Down 2.5 %

The stock has a market capitalization of $1.17 billion, a PE ratio of 8.90 and a beta of 0.26. The stock has a 50 day moving average price of $51.81 and a 200-day moving average price of $48.37.

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

Employers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued 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 payout ratio is currently 22.47%.

Institutional Trading of Employers

Several institutional investors and hedge funds have recently bought and sold shares of EIG. Barclays PLC increased its holdings in Employers by 300.2% in the 3rd quarter. Barclays PLC now owns 41,501 shares of the financial services provider's stock worth $1,991,000 after acquiring an additional 31,131 shares in the last quarter. MML Investors Services LLC boosted its stake in Employers by 27.0% during the 3rd quarter. MML Investors Services LLC now owns 6,806 shares of the financial services provider's stock worth $326,000 after purchasing an additional 1,448 shares during the last quarter. HighTower Advisors LLC boosted its stake in Employers by 1.6% during the 3rd quarter. HighTower Advisors LLC now owns 14,723 shares of the financial services provider's stock worth $708,000 after purchasing an additional 227 shares during the last quarter. Jane Street Group LLC boosted its stake in Employers by 22.9% during the 3rd quarter. Jane Street Group LLC now owns 48,982 shares of the financial services provider's stock worth $2,350,000 after purchasing an additional 9,138 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Employers by 30.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,371 shares of the financial services provider's stock worth $354,000 after purchasing an additional 1,707 shares during the last quarter. 80.49% of the stock is currently 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.