Employers Holdings, Inc. (NYSE:EIG) Shares Sold by Summit Global Investments

Summit Global Investments lowered its stake in shares of Employers Holdings, Inc. (NYSE:EIG) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,376 shares of the financial services provider’s stock after selling 735 shares during the quarter. Summit Global Investments’ holdings in Employers were worth $291,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Employers by 247.6% during the third quarter. AQR Capital Management LLC now owns 193,350 shares of the financial services provider’s stock worth $7,724,000 after acquiring an additional 137,725 shares during the last quarter. Federated Hermes Inc. grew its position in Employers by 221.6% in the 4th quarter. Federated Hermes Inc. now owns 61,617 shares of the financial services provider’s stock worth $2,428,000 after purchasing an additional 42,456 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Employers by 33.4% during the third quarter. Assenagon Asset Management S.A. now owns 169,086 shares of the financial services provider’s stock valued at $6,755,000 after purchasing an additional 42,378 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Employers by 55.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 93,757 shares of the financial services provider’s stock worth $3,746,000 after buying an additional 33,282 shares in the last quarter. Finally, LSV Asset Management lifted its position in Employers by 18.7% in the third quarter. LSV Asset Management now owns 207,700 shares of the financial services provider’s stock worth $8,298,000 after purchasing an additional 32,700 shares during the period. 80.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EIG has been the topic of several research reports. Truist Financial boosted their price target on shares of Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Janney Montgomery Scott downgraded shares of Employers from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th.

Employers Stock Up 0.7 %

Shares of NYSE EIG opened at $43.02 on Tuesday. The business has a fifty day simple moving average of $44.17 and a 200-day simple moving average of $41.39. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 9.11 and a beta of 0.25. Employers Holdings, Inc. has a 12 month low of $35.43 and a 12 month high of $46.78.

Employers (NYSE:EIG) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.67 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 firm had revenue of $223.10 million during the quarter, compared to analyst estimates of $217.46 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Employers Holdings, Inc. will post 3.65 EPS for the current fiscal year.

Employers Increases Dividend

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

Employers Profile

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.