Exchange Traded Concepts LLC Grows Stake in Employers Holdings Inc $EIG

Exchange Traded Concepts LLC grew its holdings in shares of Employers Holdings Inc (NYSE:EIG) by 39.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,116 shares of the financial services provider’s stock after purchasing an additional 18,793 shares during the period. Exchange Traded Concepts LLC’s holdings in Employers were worth $2,809,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its position in Employers by 133.5% during the 2nd quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock valued at $30,000 after buying an additional 363 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Employers during the second quarter worth about $39,000. Tower Research Capital LLC TRC increased its holdings in shares of Employers by 179.6% during 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 acquiring an additional 1,462 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Employers by 26.8% in the 2nd 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 purchased a new position in shares of Employers in the 2nd quarter valued at approximately $234,000. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

Employers Trading Up 0.3%

Shares of NYSE:EIG opened at $42.92 on Friday. Employers Holdings Inc has a twelve month low of $35.73 and a twelve month high of $52.28. The company has a market cap of $964.84 million, a PE ratio of 16.96 and a beta of 0.60. The company’s 50 day moving average is $40.30 and its 200 day moving average is $42.66.

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

Employers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, November 12th. Employers’s dividend payout ratio (DPR) is currently 50.59%.

Wall Street Analyst Weigh In

EIG has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Employers in a research report on Monday. Zacks Research lowered shares of Employers from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

Insiders Place Their Bets

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

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.