Assenagon Asset Management S.A. Acquires Shares of 21,368 Employers Holdings Inc $EIG

Assenagon Asset Management S.A. acquired a new position in shares of Employers Holdings Inc (NYSE:EIG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,368 shares of the financial services provider’s stock, valued at approximately $908,000. Assenagon Asset Management S.A. owned about 0.09% of Employers as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its stake in Employers by 133.5% in the second quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 363 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Employers in the second quarter valued at approximately $39,000. Tower Research Capital LLC TRC lifted its stake in Employers by 179.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,276 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 1,462 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Employers by 26.8% in the second quarter. BNP Paribas Financial Markets now owns 2,718 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 575 shares during the last quarter. Finally, EMC Capital Management bought a new position in Employers during the second quarter valued at $234,000. Institutional investors own 80.49% of the company’s stock.

Insider Transactions at Employers

In other Employers news, EVP Michael Pedraja bought 5,500 shares of Employers stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average cost of $37.09 per share, for a total transaction of $203,995.00. Following the completion of the transaction, the executive vice president directly owned 17,830 shares in the company, valued at $661,314.70. This represents a 44.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Employers Trading Up 0.3%

EIG stock opened at $42.92 on Thursday. The firm has a 50 day moving average of $40.26 and a 200-day moving average of $42.66. The firm has a market capitalization of $964.84 million, a P/E ratio of 16.96 and a beta of 0.60. Employers Holdings Inc has a 12 month low of $35.73 and a 12 month high of $52.28.

Employers (NYSE:EIG) last posted its earnings results on Thursday, October 30th. The financial services provider reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.71). Employers had a return on equity of 3.38% and a net margin of 6.91%.The firm had revenue of $239.30 million for the quarter, compared to the consensus estimate of $216.60 million. During the same period last year, the company posted $0.81 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Sell-side analysts predict that Employers Holdings Inc will post 3.63 EPS for the current year.

Employers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Wednesday, November 12th. Employers’s dividend payout ratio (DPR) is 50.59%.

Analysts Set New Price Targets

Several analysts have issued reports on EIG shares. Weiss Ratings restated a “hold (c-)” rating on shares of Employers in a research note on Monday. Zacks Research cut Employers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Employers currently has a consensus rating of “Reduce”.

Employers Profile

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.