Zacks Investment Research lowered shares of Employers Holdings Inc (NYSE:EIG) from a buy rating to a hold rating in a report issued on Wednesday, May 24th.
According to Zacks, “Employers Holdings, Inc. is a specialty provider of workers compensation insurance focused on select small businesses engaged in low to medium hazard industries. It markets its products through independent local, regional, and national agents and brokers, as well as through its strategic partnerships and alliances and relationships with national, regional, and local trade groups and associations. Employers Holdings, Inc. is headquartered in Reno, Nevada. “
Shares of Employers Holdings (NYSE:EIG) traded up 0.95% during midday trading on Wednesday, hitting $42.35. The stock had a trading volume of 191,981 shares. The firm’s 50 day moving average price is $40.75 and its 200 day moving average price is $38.47. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 12.91 and a beta of 1.11. Employers Holdings has a 52-week low of $27.01 and a 52-week high of $43.55.
Employers Holdings (NYSE:EIG) last announced its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.06. The company had revenue of $196.30 million for the quarter, compared to analyst estimates of $190.17 million. Employers Holdings had a net margin of 13.72% and a return on equity of 9.83%. On average, equities research analysts expect that Employers Holdings will post $2.22 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. Employers Holdings’s dividend payout ratio (DPR) is presently 18.35%.
In other news, COO Stephen V. Festa sold 18,329 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $39.26, for a total value of $719,596.54. Following the transaction, the chief operating officer now owns 19,542 shares of the company’s stock, valued at approximately $767,218.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas D. Dirks sold 83,890 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $41.93, for a total transaction of $3,517,507.70. Following the completion of the transaction, the chief executive officer now directly owns 409,535 shares in the company, valued at approximately $17,171,802.55. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of EIG. Dimensional Fund Advisors LP increased its position in shares of Employers Holdings by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,231,143 shares of the financial services provider’s stock worth $88,353,000 after buying an additional 156,203 shares in the last quarter. State Street Corp increased its position in shares of Employers Holdings by 6.3% in the fourth quarter. State Street Corp now owns 712,870 shares of the financial services provider’s stock worth $28,233,000 after buying an additional 42,384 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Employers Holdings by 78.7% in the third quarter. JPMorgan Chase & Co. now owns 40,524 shares of the financial services provider’s stock worth $1,209,000 after buying an additional 17,841 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Employers Holdings by 8.8% in the fourth quarter. Two Sigma Investments LP now owns 38,569 shares of the financial services provider’s stock worth $1,527,000 after buying an additional 3,111 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Employers Holdings by 138.0% in the third quarter. Principal Financial Group Inc. now owns 562,027 shares of the financial services provider’s stock worth $16,766,000 after buying an additional 325,877 shares in the last quarter. 78.39% of the stock is currently owned by institutional investors and hedge funds.
Employers Holdings Company Profile
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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