Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Position in Employers Holdings, Inc. (NYSE:EIG)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in Employers Holdings, Inc. (NYSE:EIG) by 32.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,321 shares of the financial services provider’s stock after selling 2,103 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Employers were worth $170,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of EIG. Northern Trust Corp raised its stake in Employers by 0.3% in the third quarter. Northern Trust Corp now owns 599,109 shares of the financial services provider’s stock valued at $23,934,000 after purchasing an additional 1,660 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Employers by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 397,603 shares of the financial services provider’s stock worth $15,884,000 after acquiring an additional 24,435 shares during the last quarter. Eagle Asset Management Inc. grew its position in Employers by 9.9% in the third quarter. Eagle Asset Management Inc. now owns 285,856 shares of the financial services provider’s stock worth $11,420,000 after acquiring an additional 25,655 shares in the last quarter. American Century Companies Inc. increased its stake in Employers by 3.5% in the third quarter. American Century Companies Inc. now owns 236,362 shares of the financial services provider’s stock valued at $9,443,000 after acquiring an additional 8,022 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Employers by 2.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 234,008 shares of the financial services provider’s stock valued at $9,349,000 after purchasing an additional 4,593 shares in the last quarter. 80.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Employers Trading Up 1.2 %

NYSE EIG opened at $43.35 on Thursday. The firm has a market cap of $1.10 billion, a PE ratio of 9.18 and a beta of 0.25. Employers Holdings, Inc. has a 1-year low of $35.43 and a 1-year high of $46.78. The stock has a 50-day moving average of $44.06 and a 200-day moving average of $41.43.

Employers (NYSE:EIG) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.02). Employers had a net margin of 14.16% and a return on equity of 10.49%. The company had revenue of $223.10 million during the quarter, compared to the consensus estimate of $217.46 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities research analysts forecast that Employers Holdings, Inc. will post 3.65 earnings per share for the current fiscal year.

Employers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Tuesday, May 7th. This is a positive change from Employers’s previous quarterly dividend of $0.28. Employers’s dividend payout ratio (DPR) is 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.