The stock of Employers Holdings, Inc. (NYSE:EIG) hit a new 52-week high and has $39.01 target or 6.00% above today’s $36.80 share price. The 9 months bullish chart indicates low risk for the $1.18B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $39.01 price target is reached, the company will be worth $70.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 55,988 shares traded hands. Employers Holdings, Inc. (NYSE:EIG) has risen 26.70% since April 25, 2016 and is uptrending. It has outperformed by 20.69% the S&P500.
Analysts await Employers Holdings, Inc. (NYSE:EIG) to report earnings on February, 15. They expect $0.53 earnings per share, down 49.52% or $0.52 from last year’s $1.05 per share. EIG’s profit will be $16.99M for 17.36 P/E if the $0.53 EPS becomes a reality. After $0.57 actual earnings per share reported by Employers Holdings, Inc. for the previous quarter, Wall Street now forecasts -7.02% negative EPS growth.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 0.8 in 2016 Q2. Its down 0.09, from 0.89 in 2016Q1. The ratio turned negative, as 21 funds sold all Employers Holdings, Inc. shares owned while 60 reduced positions. 16 funds bought stakes while 56 increased positions. They now own 24.90 million shares or 0.71% more from 24.72 million shares in 2016Q1.
Manufacturers Life Insur Com The, a Ontario – Canada-based fund reported 21,392 shares. Opus Group Ltd Limited Liability Company holds 170,624 shares or 1.1% of its portfolio. Zacks Inv Mgmt accumulated 18,033 shares or 0.02% of the stock. Ridgeworth Capital Mgmt Limited Liability Corporation has invested 0% of its portfolio in Employers Holdings, Inc. (NYSE:EIG). Teachers Inc owns 382,523 shares or 0.02% of their US portfolio. Cap Fund has 7,900 shares for 0% of their US portfolio. Palo Cap, a California-based fund reported 13,000 shares. Ladenburg Thalmann Finance reported 416 shares or 0% of all its holdings. California Employees Retirement System last reported 105,200 shares in the company. Principal Financial Gru Incorporated, a Iowa-based fund reported 236,150 shares. Credit Suisse Ag accumulated 30,896 shares or 0% of the stock. Hillsdale Investment Mgmt accumulated 20,310 shares or 0.17% of the stock. Blackrock Mngmt Llc, a New Jersey-based fund reported 141,109 shares. Panagora Asset holds 0.05% or 315,350 shares in its portfolio. Jpmorgan Chase owns 22,683 shares or 0% of their US portfolio.
Insider Transactions: Since June 1, 2016, the stock had 1 insider purchase, and 7 sales for $2.62 million net activity. 5,700 Employers Holdings, Inc. (NYSE:EIG) shares with value of $176,700 were sold by Festa Stephen V. The insider Blakey Richard W bought 260 shares worth $7,280. Hallman Richard P sold $459,653 worth of stock. Shares for $804,310 were sold by Ormsby Lenard T. Nelson Ann W sold $34,260 worth of stock.
More recent Employers Holdings, Inc. (NYSE:EIG) news were published by: Businesswire.com which released: “Employers Holdings, Inc. Schedules Third Quarter 2016 Earnings Release and …” on October 13, 2016. Also Nasdaq.com published the news titled: “Employers Holdings Inc (EIG) Ex-Dividend Date Scheduled for November 07, 2016” on November 04, 2016. Businesswire.com‘s news article titled: “Employers Holdings, Inc. Names Dwight L. Robertson, M.D. Vice President …” with publication date: March 14, 2016 was also an interesting one.
EIG Company Profile
Employers Holdings, Inc., incorporated on March 9, 2005, is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. The Firm provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses. The Firm provides workers’ compensation insurance in approximately 30 states and the District of Columbia, with a concentration in California. The Firm invests in fixed maturity securities, equity securities and cash equivalents. The Company’s insurance subsidiaries include Employers Insurance Company of Nevada (EICN), Employers Compensation Insurance Company (ECIC), Employers Preferred Insurance Company (EPIC) and Employers Assurance Company (EAC).
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