Short Interest in Employers Holdings, Inc. (NYSE:EIG) Decreases By 14.5%

Employers Holdings, Inc. (NYSE:EIGGet Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 312,600 shares, a decrease of 14.5% from the April 30th total of 365,700 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 129,800 shares, the short-interest ratio is presently 2.4 days.

Hedge Funds Weigh In On Employers

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Employers by 12.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,334 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 834 shares during the period. Lazard Asset Management LLC acquired a new stake in Employers in the first quarter valued at $36,000. Quadrature Capital Ltd increased its position in shares of Employers by 25.0% in the first quarter. Quadrature Capital Ltd now owns 6,665 shares of the financial services provider’s stock valued at $303,000 after buying an additional 1,332 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Employers by 5.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 21,931 shares of the financial services provider’s stock valued at $995,000 after buying an additional 1,133 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Employers by 983.8% in the 1st quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock worth $51,000 after buying an additional 1,033 shares in the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EIG shares. Truist Financial lifted their target price on Employers from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Janney Montgomery Scott downgraded Employers from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th.

Get Our Latest Analysis on Employers

Employers Stock Up 1.1 %

NYSE EIG opened at $41.19 on Friday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 8.73 and a beta of 0.25. Employers has a 52-week low of $35.43 and a 52-week high of $46.78. The firm has a 50-day moving average price of $43.25 and a 200 day moving average price of $41.81.

Employers (NYSE:EIGGet Free Report) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). Employers had a return on equity of 10.49% and a net margin of 14.16%. The business had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $217.46 million. During the same period last year, the company posted $0.60 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Employers will post 3.65 earnings per share for the current fiscal year.

Employers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.91%. This is an increase from Employers’s previous quarterly dividend of $0.28. Employers’s dividend payout ratio (DPR) is 25.42%.

About Employers

(Get Free Report)

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.

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