Employers (NYSE:EIG) Share Price Crosses Above 50 Day Moving Average of $42.37

Shares of Employers Holdings, Inc. (NYSE:EIG) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $42.37 and traded as high as $44.79. Employers shares last traded at $43.99, with a volume of 48,852 shares trading hands.

A number of brokerages recently weighed in on EIG. Zacks Investment Research cut shares of German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Buckingham Research restated a “positive” rating and issued a $152.00 price objective (up previously from $125.00) on shares of Dollar General in a report on Friday, May 31st.

The firm has a market cap of $1.40 billion, a PE ratio of 10.65 and a beta of 0.73. The company’s fifty day moving average is $42.43.

Employers (NYSE:EIG) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.40. The firm had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $214.73 million. Employers had a net margin of 20.04% and a return on equity of 13.71%. During the same quarter in the previous year, the business posted $0.77 earnings per share. On average, equities analysts predict that Employers Holdings, Inc. will post 2.53 earnings per share for the current year.

In related news, SVP Lawrence S. Rogers sold 607 shares of Employers stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $41.23, for a total value of $25,026.61. Following the completion of the transaction, the senior vice president now owns 9,558 shares in the company, valued at $394,076.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund grew its stake in shares of Employers by 13.9% during the fourth quarter. New York State Common Retirement Fund now owns 42,610 shares of the financial services provider’s stock valued at $1,788,000 after buying an additional 5,210 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Employers by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 458,153 shares of the financial services provider’s stock valued at $19,228,000 after buying an additional 8,396 shares during the last quarter. Texas Permanent School Fund grew its stake in shares of Employers by 4.1% during the fourth quarter. Texas Permanent School Fund now owns 21,464 shares of the financial services provider’s stock valued at $901,000 after buying an additional 852 shares during the last quarter. Citigroup Inc. grew its stake in shares of Employers by 30.5% during the fourth quarter. Citigroup Inc. now owns 26,508 shares of the financial services provider’s stock valued at $1,113,000 after buying an additional 6,203 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Employers by 9.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 44,068 shares of the financial services provider’s stock valued at $1,707,000 after buying an additional 3,755 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Employers Company Profile (NYSE:EIG)

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.

Further Reading: What is meant by a buy rating?

Receive News & Ratings for Employers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Employers and related companies with MarketBeat.com's FREE daily email newsletter.