Truist Financial Issues Positive Forecast for Employers (NYSE:EIG) Stock Price

Employers (NYSE:EIG - Get Free Report) had its price objective hoisted by equities research analysts at Truist Financial from $55.00 to $58.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Truist Financial's target price would suggest a potential upside of 21.49% from the company's previous close.

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

Employers Price Performance

Shares of EIG traded down $0.98 during midday trading on Friday, hitting $47.74. 50,514 shares of the company traded hands, compared to its average volume of 129,800. Employers has a one year low of $37.33 and a one year high of $50.00. The firm has a market cap of $1.19 billion, a P/E ratio of 9.13 and a beta of 0.24. The stock has a 50-day moving average of $47.94 and a 200-day moving average of $45.08.

Employers (NYSE:EIG - Get Free Report) last announced its quarterly 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. The firm had revenue of $224.00 million during the quarter, compared to the consensus estimate of $225.19 million. Employers had a net margin of 15.27% and a return on equity of 9.96%. Sell-side analysts forecast that Employers will post 3.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Employers

Large investors have recently added to or reduced their stakes in the company. Isthmus Partners LLC increased its position in shares of 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 purchasing an additional 375 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Employers during the first quarter worth approximately $36,000. Bessemer Group Inc. lifted its holdings in shares of Employers by 983.8% in the 1st quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider's stock worth $51,000 after acquiring an additional 1,033 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Employers by 45.5% in the 3rd 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. Finally, Innealta Capital LLC bought a new position in shares of Employers during the 2nd quarter valued at $81,000. Hedge funds and other institutional investors own 80.49% of the company's stock.

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.