Employer Holdings drops 9% on analyst downgrade

Employers Holdings Inc. (NYSE:EIG) is down 9% today after analysts at Keefe, Bruyette, & Woods downgraded the company ahead of the opening to “market perform” from “outperform.” The research firm said the downgrade reflects “conservative growth and investment income expectations.” Employers Holdings is a Reno, Nev.-based company that provides workers’ compensation insurance to small businesses. In today’s trading, shares of the company are at $18.15, down $1.85 from Tuesday’s close. The stock has ranged from $15.13 to $21.72 during the past year.

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