Employers (NYSE:EIG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks.com reports.

According to Zacks, “Employers Holdings, Inc. is a specialty provider of workers compensation insurance focused on select small businesses engaged in low to medium hazard industries. It markets its products through independent local, regional, and national agents and brokers, as well as through its strategic partnerships and alliances and relationships with national, regional, and local trade groups and associations. Employers Holdings, Inc. is headquartered in Reno, Nevada. “

A number of other brokerages have also recently commented on EIG. Boenning Scattergood restated a “buy” rating and set a $50.00 price target on shares of Employers in a research note on Thursday. Buckingham Research restated a “positive” rating and set a $152.00 price target (up from $125.00) on shares of Dollar General in a research note on Friday, May 31st.

EIG traded down $1.10 during midday trading on Monday, reaching $43.87. The company had a trading volume of 84,117 shares, compared to its average volume of 155,610. The company has a market capitalization of $1.44 billion, a PE ratio of 10.67 and a beta of 0.73. The business’s 50-day moving average price is $43.21. Employers has a 12-month low of $39.31 and a 12-month high of $47.97.

Employers (NYSE:EIG) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.41. The company had revenue of $204.30 million for the quarter, compared to analysts’ expectations of $206.19 million. Employers had a net margin of 19.82% and a return on equity of 12.98%. During the same period in the prior year, the company posted $0.94 EPS. Research analysts forecast that Employers will post 2.53 EPS for the current fiscal year.

In related news, SVP Lawrence S. Rogers sold 607 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $41.23, for a total transaction of $25,026.61. Following the sale, the senior vice president now directly owns 9,558 shares in the company, valued at approximately $394,076.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in EIG. Norges Bank purchased a new stake in Employers in the 4th quarter worth approximately $28,982,000. American Century Companies Inc. purchased a new stake in Employers in the 4th quarter worth approximately $6,328,000. Westwood Holdings Group Inc. lifted its stake in Employers by 43.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 416,439 shares of the financial services provider’s stock worth $16,703,000 after purchasing an additional 125,173 shares in the last quarter. First Trust Advisors LP lifted its stake in Employers by 180.0% in the 1st quarter. First Trust Advisors LP now owns 99,978 shares of the financial services provider’s stock worth $4,010,000 after purchasing an additional 64,271 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Employers by 38.6% in the 4th quarter. Millennium Management LLC now owns 212,071 shares of the financial services provider’s stock worth $8,901,000 after purchasing an additional 59,111 shares in the last quarter. Institutional investors own 79.87% 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. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.

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