Federated Hermes Inc. Acquires 42,456 Shares of Employers Holdings, Inc. (NYSE:EIG)

Federated Hermes Inc. grew its holdings in Employers Holdings, Inc. (NYSE:EIG) by 221.6% in the fourth quarter, HoldingsChannel reports. The fund owned 61,617 shares of the financial services provider’s stock after buying an additional 42,456 shares during the period. Federated Hermes Inc.’s holdings in Employers were worth $2,428,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Employers by 55.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 93,757 shares of the financial services provider’s stock worth $3,746,000 after acquiring an additional 33,282 shares in the last quarter. LSV Asset Management raised its stake in Employers by 18.7% during the third quarter. LSV Asset Management now owns 207,700 shares of the financial services provider’s stock worth $8,298,000 after acquiring an additional 32,700 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Employers by 2.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 44,708 shares of the financial services provider’s stock valued at $1,761,000 after buying an additional 876 shares during the period. Barclays PLC boosted its holdings in shares of Employers by 45.2% during the 3rd quarter. Barclays PLC now owns 21,880 shares of the financial services provider’s stock worth $875,000 after buying an additional 6,808 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Employers by 247.6% during the 3rd 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 in the last quarter. Institutional investors own 80.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EIG. Truist Financial increased their target price on Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Janney Montgomery Scott cut Employers from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th.

Employers Trading Up 1.1 %

NYSE EIG opened at $44.01 on Monday. The firm has a market capitalization of $1.12 billion, a P/E ratio of 9.32 and a beta of 0.24. The business has a fifty day simple moving average of $44.50 and a 200 day simple moving average of $41.28. Employers Holdings, Inc. has a 12 month low of $35.43 and a 12 month high of $46.78.

Employers (NYSE:EIG) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The company had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $217.46 million. Employers had a net margin of 14.16% and a return on equity of 10.65%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. As a group, sell-side analysts predict that Employers Holdings, Inc. will post 3.73 EPS for the current fiscal year.

Employers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a $0.30 dividend. This is a positive change from Employers’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, May 7th. Employers’s dividend payout ratio is presently 23.73%.

Employers 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.