Employers (NYSE:EIG) Hits New 12-Month High at $49.05

Employers Holdings, Inc. (NYSE:EIG - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $49.05 and last traded at $48.66, with a volume of 12517 shares trading hands. The stock had previously closed at $48.60.

Analyst Ratings Changes

Separately, JMP Securities upgraded shares of Employers to a "hold" rating in a research report on Thursday, August 1st.

Employers Price Performance

The business has a 50 day simple moving average of $45.62 and a 200 day simple moving average of $44.15. The stock has a market cap of $1.24 billion, a PE ratio of 10.37 and a beta of 0.24.

Employers (NYSE:EIG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. The business had revenue of $217.00 million during the quarter, compared to analysts' expectations of $223.82 million. Employers had a return on equity of 9.95% and a net margin of 13.76%. The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 EPS. As a group, sell-side analysts forecast that Employers Holdings, Inc. will post 3.63 earnings per share for the current fiscal year.

Employers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.45%. Employers's dividend payout ratio is currently 25.42%.

Hedge Funds Weigh In On Employers

Institutional investors have recently bought and sold shares of the stock. Isthmus Partners LLC lifted its stake in shares of Employers by 0.5% in the second quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider's stock worth $35,000 after buying an additional 375 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Employers during the first quarter valued at about $36,000. Bessemer Group Inc. grew its position in shares of Employers by 983.8% in the first quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 1,033 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Employers in the second quarter worth about $81,000. Finally, Mutual of America Capital Management LLC acquired a new position in shares of Employers during the 1st quarter worth about $201,000. 80.49% of the stock is currently owned by institutional investors.

Employers Company Profile

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.