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

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

Other equities analysts also recently issued reports about the stock. JMP Securities raised shares of Employers to a "hold" rating in a research note on Thursday, August 1st. Truist Financial boosted their price objective 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 Trading Down 0.9 %

NYSE:EIG traded down $0.49 during trading hours on Tuesday, reaching $53.40. The company had a trading volume of 152,640 shares, compared to its average volume of 129,886. The firm's 50 day moving average price is $48.54 and its 200-day moving average price is $45.54. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 10.00 and a beta of 0.24. Employers has a 52 week low of $37.33 and a 52 week high of $54.44.

Employers (NYSE:EIG - Get Free Report) last issued 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. Employers had a net margin of 15.27% and a return on equity of 9.78%. The company had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. On average, analysts forecast that Employers will post 3.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Isthmus Partners LLC raised its stake in shares of Employers by 0.5% during the second 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 period. Lazard Asset Management LLC acquired a new position in shares of Employers during the first quarter valued at $36,000. Bessemer Group Inc. lifted its holdings in Employers by 983.8% in the first quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider's stock worth $51,000 after purchasing an additional 1,033 shares during the period. GAMMA Investing LLC lifted 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 worth $55,000 after purchasing an additional 358 shares during the period. Finally, Innealta Capital LLC bought a new stake in Employers in the second quarter worth about $81,000. Hedge funds and other institutional investors 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.