Employers (NYSE:EIG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Zacks.com reports. The brokerage presently has a $47.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.02% from the company’s previous close.
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. “
Separately, Boenning Scattergood restated a “buy” rating and issued a $50.00 target price on shares of Employers in a report on Thursday, July 25th.
Employers (NYSE:EIG) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.41. Employers had a return on equity of 12.98% and a net margin of 19.82%. The company had revenue of $204.30 million for the quarter, compared to the consensus estimate of $206.19 million. During the same quarter in the previous year, the business earned $0.94 EPS. Sell-side analysts expect that Employers will post 2.73 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of Employers by 11.8% in the 2nd quarter. Royal Bank of Canada now owns 6,467 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 682 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of Employers by 10.2% in the 2nd quarter. Holocene Advisors LP now owns 8,076 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 748 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Employers by 0.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 88,130 shares of the financial services provider’s stock worth $3,725,000 after acquiring an additional 826 shares during the last quarter. Swiss National Bank grew its holdings in shares of Employers by 2.0% in the 2nd quarter. Swiss National Bank now owns 61,000 shares of the financial services provider’s stock worth $2,578,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Anderson Fisher LLC acquired a new position in shares of Employers in the 2nd quarter worth $80,000. Institutional investors and hedge funds own 80.47% of the company’s stock.
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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