State of New Jersey Common Pension Fund D Lowers Position in Employers Holdings Inc $EIG

State of New Jersey Common Pension Fund D lessened its holdings in Employers Holdings Inc (NYSE:EIG) by 12.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,325 shares of the financial services provider’s stock after selling 6,170 shares during the period. State of New Jersey Common Pension Fund D owned 0.18% of Employers worth $2,091,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Employers by 16.4% in the first quarter. GAMMA Investing LLC now owns 2,147 shares of the financial services provider’s stock worth $109,000 after buying an additional 302 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Employers by 8.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,895 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 215 shares in the last quarter. XTX Topco Ltd purchased a new stake in Employers during the first quarter valued at about $294,000. First Citizens Bank & Trust Co. purchased a new stake in Employers during the second quarter valued at about $279,000. Finally, Royal Bank of Canada raised its position in Employers by 32.8% during the first quarter. Royal Bank of Canada now owns 6,037 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 1,490 shares in the last quarter. Hedge funds and other institutional investors own 80.49% of the company’s stock.

Employers Price Performance

NYSE EIG opened at $40.14 on Thursday. The stock has a market capitalization of $943.87 million, a PE ratio of 9.79 and a beta of 0.50. Employers Holdings Inc has a 1 year low of $38.19 and a 1 year high of $54.44. The business’s 50-day moving average is $42.17 and its 200 day moving average is $45.08.

Employers (NYSE:EIG) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.46). The business had revenue of $246.30 million during the quarter, compared to the consensus estimate of $217.17 million. Employers had a return on equity of 7.56% and a net margin of 11.37%.The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. As a group, equities research analysts anticipate that Employers Holdings Inc will post 3.63 earnings per share for the current year.

Analyst Ratings Changes

EIG has been the topic of a number of research reports. Zacks Research upgraded Employers from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen downgraded Employers from a “hold” rating to a “sell” rating in a research report on Monday, August 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Employers in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.00.

About Employers

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.