Employers (NYSE:EIG) Reaches New 1-Year High – Still a Buy?

Employers Holdings, Inc. (NYSE:EIG) hit a new 52-week high on Tuesday . The company traded as high as $49.41 and last traded at $49.34, with a volume of 12404 shares traded. The stock had previously closed at $48.43.

Wall Street Analyst Weigh In

Separately, JMP Securities raised Employers to a “hold” rating in a research report on Thursday, August 1st.

Employers Stock Up 1.0 %

The company’s 50 day simple moving average is $47.42 and its two-hundred day simple moving average is $44.74. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.59 and a beta of 0.24.

Employers (NYSE:EIG) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. Employers had a return on equity of 9.95% and a net margin of 13.76%. The firm had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $223.82 million. During the same quarter last year, the firm earned $1.17 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Analysts anticipate that Employers Holdings, Inc. will post 3.63 EPS for the current year.

Employers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.40%. Employers’s payout ratio is 25.42%.

Hedge Funds Weigh In On Employers

Hedge funds and other institutional investors have recently modified their holdings of the stock. LSV Asset Management increased its stake in Employers by 58.9% during the 1st quarter. LSV Asset Management now owns 798,826 shares of the financial services provider’s stock valued at $36,259,000 after purchasing an additional 295,983 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Employers by 24.2% during the second quarter. American Century Companies Inc. now owns 458,722 shares of the financial services provider’s stock valued at $19,555,000 after buying an additional 89,429 shares during the last quarter. Bank of Montreal Can purchased a new stake in Employers during the 2nd quarter valued at about $1,522,000. Isthmus Partners LLC increased its holdings in shares of Employers by 45.0% in the first quarter. Isthmus Partners LLC now owns 80,987 shares of the financial services provider’s stock valued at $3,676,000 after purchasing an additional 25,136 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Employers by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 3,154,256 shares of the financial services provider’s stock valued at $124,278,000 after purchasing an additional 16,997 shares during the period. 80.49% of the stock is owned by hedge funds and other institutional investors.

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.