Renaissance Technologies LLC Has $4.02 Million Holdings in Employers Holdings Inc $EIG

Renaissance Technologies LLC decreased its holdings in Employers Holdings Inc (NYSE:EIG) by 41.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,700 shares of the financial services provider’s stock after selling 69,300 shares during the quarter. Renaissance Technologies LLC owned 0.54% of Employers worth $4,019,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIG. Public Employees Retirement System of Ohio lifted its holdings in shares of Employers by 15.1% in the first quarter. Public Employees Retirement System of Ohio now owns 26,313 shares of the financial services provider’s stock valued at $1,083,000 after purchasing an additional 3,453 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Employers by 27.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 300,567 shares of the financial services provider’s stock worth $12,365,000 after buying an additional 65,100 shares in the last quarter. Sei Investments Co. raised its position in Employers by 53.9% in the 1st quarter. Sei Investments Co. now owns 16,570 shares of the financial services provider’s stock valued at $682,000 after buying an additional 5,804 shares during the last quarter. Bessemer Group Inc. raised its position in Employers by 227.1% in the 1st quarter. Bessemer Group Inc. now owns 651 shares of the financial services provider’s stock valued at $27,000 after buying an additional 452 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Employers by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 109,252 shares of the financial services provider’s stock valued at $4,495,000 after acquiring an additional 2,123 shares in the last quarter. 80.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Employers from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Truist Financial raised their price target on shares of Employers from $49.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Employers from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Zacks Research downgraded shares of Employers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Employers currently has a consensus rating of “Hold” and an average price target of $59.00.

Employers Price Performance

Employers stock opened at $49.46 on Friday. The business’s 50 day simple moving average is $48.81 and its 200 day simple moving average is $44.48. Employers Holdings Inc has a 12 month low of $35.73 and a 12 month high of $52.59. The company has a market cap of $888.37 million, a price-to-earnings ratio of 71.69 and a beta of 0.47. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.15.

Employers (NYSE:EIG) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.13. Employers had a net margin of 0.91% and a return on equity of 1.30%. The firm had revenue of $220.20 million for the quarter, compared to the consensus estimate of $203.51 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. Sell-side analysts forecast that Employers Holdings Inc will post 2.22 EPS for the current year.

Employers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.36 annualized dividend and a dividend yield of 2.7%. Employers’s dividend payout ratio is presently 197.10%.

Employers Company Profile

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.