Employers Holdings Reports 3Q Miss

Keefe Bruyette & Woods has published a research report on Employers Holdings, Inc. EIG following a reported miss in the company's 3Q results. In the research report, KBW writes "The miss was driven by weaker underwriting results due to a lack of favorable reserve development. Excluding reserve development, EIG's normalized EPS missed our estimate by $0.06. We're lowering our '10 and '11 EPS estimates. We're increasing our TP to $17 and maintaining our Market Perform rating." Employers Holdings, Inc. closed Friday at $16.22.