Louisiana State Employees Retirement System Purchases Shares of 12,900 Employers Holdings, Inc. (NYSE:EIG)

Louisiana State Employees Retirement System purchased a new position in shares of Employers Holdings, Inc. (NYSE:EIG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,900 shares of the financial services provider’s stock, valued at approximately $508,000. Louisiana State Employees Retirement System owned approximately 0.05% of Employers as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Employers in the third quarter worth $198,000. Inspire Advisors LLC grew its stake in shares of Employers by 27.6% in the 3rd quarter. Inspire Advisors LLC now owns 22,010 shares of the financial services provider’s stock valued at $879,000 after buying an additional 4,756 shares during the period. Inspire Investing LLC increased its position in Employers by 172.5% in the 3rd quarter. Inspire Investing LLC now owns 22,964 shares of the financial services provider’s stock valued at $917,000 after buying an additional 14,536 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Employers by 55.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 93,757 shares of the financial services provider’s stock valued at $3,746,000 after buying an additional 33,282 shares in the last quarter. Finally, Meritage Portfolio Management bought a new position in Employers in the third quarter worth approximately $314,000. Institutional investors own 80.49% of the company’s stock.

Employers Stock Performance

Shares of EIG opened at $43.07 on Tuesday. The firm has a market capitalization of $1.09 billion, a P/E ratio of 9.13 and a beta of 0.24. Employers Holdings, Inc. has a 52 week low of $35.43 and a 52 week high of $46.78. The stock has a 50 day moving average price of $44.46 and a two-hundred day moving average price of $41.30.

Employers (NYSE:EIG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02). Employers had a return on equity of 10.49% and a net margin of 14.16%. The company had revenue of $223.10 million for the quarter, compared to the consensus estimate of $217.46 million. During the same quarter last year, the company posted $0.60 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts forecast that Employers Holdings, Inc. will post 3.73 earnings per share for the current year.

Employers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $1.20 annualized dividend and a dividend yield of 2.79%. This is an increase from Employers’s previous quarterly dividend of $0.28. Employers’s dividend payout ratio is currently 23.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EIG shares. Truist Financial boosted their price objective on Employers from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Janney Montgomery Scott lowered shares of Employers from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th.

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.