Legal & General Group Plc Takes $2.45 Million Position in Employers Holdings Inc $EIG

Legal & General Group Plc bought a new stake in shares of Employers Holdings Inc (NYSE:EIG) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 48,528 shares of the financial services provider’s stock, valued at approximately $2,450,000. Legal & General Group Plc owned 0.27% of Employers as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Employers in the second quarter valued at $130,258,000. Goldman Sachs Group Inc. increased its stake in Employers by 126.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 329,479 shares of the financial services provider’s stock worth $14,224,000 after buying an additional 183,828 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Employers by 69.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 388,769 shares of the financial services provider’s stock worth $16,783,000 after buying an additional 159,956 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Employers by 93.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 264,078 shares of the financial services provider’s stock worth $12,459,000 after buying an additional 127,330 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Employers in the 2nd quarter worth $6,135,000. 80.49% of the stock is owned by institutional investors and hedge funds.

Employers Trading Down 0.6%

NYSE EIG opened at $49.58 on Friday. The company has a market capitalization of $890.51 million, a price-to-earnings ratio of 71.86 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.39 and a quick ratio of 0.39. Employers Holdings Inc has a 12 month low of $35.73 and a 12 month high of $52.59. The company’s fifty day moving average price is $49.82 and its two-hundred day moving average price is $45.12.

Employers (NYSE:EIG) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.13. Employers had a net margin of 0.91% and a return on equity of 1.30%. The company had revenue of $220.20 million during the quarter, compared to the consensus estimate of $203.51 million. During the same quarter in the previous year, the firm earned $0.48 EPS. The company’s revenue was down 10.6% on a year-over-year basis. As a group, research analysts predict that Employers Holdings Inc will post 2.23 earnings per share for the current fiscal year.

Employers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, August 12th. This represents a $1.36 annualized dividend and a yield of 2.7%. Employers’s dividend payout ratio is presently 197.10%.

Analyst Upgrades and Downgrades

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

About Employers

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.