Employers Holdings, Inc. (NYSE:EIG) Short Interest Down 5.4% in March

Employers Holdings, Inc. (NYSE:EIG) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 365,300 shares, a decrease of 5.4% from the March 15th total of 386,100 shares. Based on an average daily volume of 138,400 shares, the short-interest ratio is currently 2.6 days. Currently, 1.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

EIG has been the subject of several analyst reports. Truist Financial upped their target price on Employers from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Janney Montgomery Scott cut shares of Employers from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th.

Employers Stock Up 0.1 %

Shares of Employers stock opened at $42.65 on Tuesday. Employers has a 12 month low of $35.43 and a 12 month high of $46.78. The stock has a market cap of $1.08 billion, a PE ratio of 9.54 and a beta of 0.24. The business has a fifty day simple moving average of $44.20 and a 200-day simple moving average of $41.03.

Employers (NYSE:EIG) last released its earnings results on Friday, February 16th. The financial services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.40. Employers had a return on equity of 10.54% and a net margin of 13.88%. The company had revenue of $225.70 million for the quarter, compared to analysts’ expectations of $215.38 million. During the same quarter in the previous year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that Employers will post 3.73 EPS for the current fiscal year.

Employers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 28th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Tuesday, February 27th. Employers’s dividend payout ratio (DPR) is presently 25.06%.

Institutional Trading of Employers

A number of institutional investors have recently bought and sold shares of EIG. Goldman Sachs Group Inc. boosted its stake in shares of Employers by 224.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 462,180 shares of the financial services provider’s stock worth $18,959,000 after acquiring an additional 319,856 shares in the last quarter. LSV Asset Management boosted its position in Employers by 142.1% during the fourth quarter. LSV Asset Management now owns 502,843 shares of the financial services provider’s stock worth $19,812,000 after purchasing an additional 295,143 shares during the period. Millennium Management LLC grew its holdings in Employers by 110.1% during the fourth quarter. Millennium Management LLC now owns 486,792 shares of the financial services provider’s stock valued at $20,995,000 after purchasing an additional 255,104 shares during the last quarter. Norges Bank bought a new position in shares of Employers in the fourth quarter valued at approximately $9,331,000. Finally, AQR Capital Management LLC lifted its stake in shares of Employers by 247.6% in the third quarter. AQR Capital Management LLC now owns 193,350 shares of the financial services provider’s stock worth $7,724,000 after buying an additional 137,725 shares during the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.

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.