State of Alaska Department of Revenue Lowers Stake in Employers Holdings, Inc. (NYSE:EIG)

State of Alaska Department of Revenue decreased its position in Employers Holdings, Inc. (NYSE:EIG) by 2.5% during the 4th quarter, Holdings Channel reports. The fund owned 15,824 shares of the financial services provider’s stock after selling 404 shares during the quarter. State of Alaska Department of Revenue’s holdings in Employers were worth $623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Employers by 13.6% in the third quarter. PNC Financial Services Group Inc. now owns 2,516 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 302 shares in the last quarter. Advisor Partners II LLC boosted its holdings in shares of Employers by 1.9% in the first quarter. Advisor Partners II LLC now owns 17,452 shares of the financial services provider’s stock valued at $728,000 after acquiring an additional 317 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Employers by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,127 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 349 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Employers by 0.7% in the third quarter. Swiss National Bank now owns 59,100 shares of the financial services provider’s stock valued at $2,361,000 after acquiring an additional 400 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Employers by 1.8% in the third quarter. GSA Capital Partners LLP now owns 25,667 shares of the financial services provider’s stock valued at $1,025,000 after acquiring an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 80.49% of the company’s stock.

Employers Trading Down 0.7 %

EIG stock opened at $42.75 on Friday. The company has a market cap of $1.08 billion, a P/E ratio of 9.56 and a beta of 0.24. Employers Holdings, Inc. has a 52 week low of $35.43 and a 52 week high of $46.78. The company’s 50-day moving average price is $44.12 and its 200 day moving average price is $41.00.

Employers (NYSE:EIG) last released its quarterly earnings data on Friday, February 16th. The financial services provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.40. The firm had revenue of $225.70 million for the quarter, compared to the consensus estimate of $215.38 million. Employers had a net margin of 13.88% and a return on equity of 10.54%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, equities research analysts expect that Employers Holdings, Inc. will post 3.73 earnings per share for the current year.

Employers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Tuesday, February 27th. Employers’s payout ratio is currently 25.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EIG. Janney Montgomery Scott downgraded shares of Employers from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. Truist Financial boosted their price objective on shares of Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th.

Employers Company Profile

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.