Renaissance Technologies LLC Boosts Stake in Employers Holdings, Inc. (NYSE:EIG)

Renaissance Technologies LLC increased its position in shares of Employers Holdings, Inc. (NYSE:EIG – Get Rating) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 335,100 shares of the financial services provider’s stock after purchasing an additional 6,000 shares during the quarter. Renaissance Technologies LLC owned 1.23% of Employers worth $11,558,000 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. Point72 Hong Kong Ltd raised its holdings in Employers by 510.1% during the first quarter. Point72 Hong Kong Ltd now owns 970 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 811 shares during the last quarter. US Bancorp DE raised its holdings in Employers by 709.0% during the second quarter. US Bancorp DE now owns 1,626 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,425 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Employers during the second quarter worth $80,000. UBS Group AG raised its holdings in Employers by 1,964.8% during the third quarter. UBS Group AG now owns 2,519 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 2,397 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Employers by 49.1% during the first quarter. Captrust Financial Advisors now owns 2,712 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 893 shares during the last quarter. 78.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EIG. Truist Financial lifted their price objective on Employers from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Janney Montgomery Scott started coverage on Employers in a report on Friday, February 24th. They issued a “buy” rating and a $50.00 price target for the company. Finally, TheStreet raised Employers from a “c+” rating to a “b” rating in a report on Thursday, November 10th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Employers has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

Employers Stock Down 0.1 %

NYSE EIG opened at $43.69 on Monday. Employers Holdings, Inc. has a fifty-two week low of $32.58 and a fifty-two week high of $46.73. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 24.54 and a beta of 0.24. The business has a fifty day moving average of $43.25 and a 200-day moving average of $41.17.

Employers (NYSE:EIG – Get Rating) last released its earnings results on Friday, February 17th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $0.76 by $0.49. The firm had revenue of $221.80 million during the quarter, compared to analyst estimates of $197.02 million. Employers had a return on equity of 8.21% and a net margin of 6.78%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 earnings per share. As a group, analysts anticipate that Employers Holdings, Inc. will post 3.1 EPS for the current year.

Employers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be paid a $0.26 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $1.04 annualized dividend and a yield of 2.38%. Employers’s payout ratio is currently 58.43%.

Employers Company Profile

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Employers Holdings, Inc engages in the provision of workers compensation products and services. It operates through following segments: Employers and Cerity. The Employers segment is defines as traditional business offered under EMPLOYERS brand name through agents. The Cerity segment is defined as business offered under Cerity brand name, which includes direct-to-customer business.