Y Intercept Hong Kong Ltd Purchases New Shares in Employers Holdings Inc $EIG

Y Intercept Hong Kong Ltd bought a new position in shares of Employers Holdings Inc (NYSE:EIG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 27,945 shares of the financial services provider’s stock, valued at approximately $1,187,000. Y Intercept Hong Kong Ltd owned 0.12% of Employers as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EIG. Qube Research & Technologies Ltd grew its position in Employers by 93.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 264,078 shares of the financial services provider’s stock valued at $12,459,000 after purchasing an additional 127,330 shares during the last quarter. Norges Bank purchased a new stake in shares of Employers during the 2nd quarter valued at about $3,859,000. Boston Partners increased its holdings in Employers by 21.8% during the second quarter. Boston Partners now owns 355,041 shares of the financial services provider’s stock valued at $16,252,000 after buying an additional 63,582 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Employers by 151.7% in the 2nd quarter. Jane Street Group LLC now owns 101,815 shares of the financial services provider’s stock worth $4,804,000 after purchasing an additional 61,367 shares in the last quarter. Finally, Carolina Wealth Advisors LLC increased its position in Employers by 80.5% in the third quarter. Carolina Wealth Advisors LLC now owns 132,289 shares of the financial services provider’s stock worth $5,620,000 after buying an additional 58,980 shares in the last quarter. 80.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Michael Pedraja purchased 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased 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 owned 17,830 shares of the company’s stock, valued at $661,314.70. This trade represents a 44.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Employers Price Performance

EIG opened at $43.66 on Friday. The firm has a market capitalization of $981.45 million, a PE ratio of 17.26 and a beta of 0.58. The business’s 50-day moving average is $42.59 and its two-hundred day moving average is $42.12. Employers Holdings Inc has a 1 year low of $35.73 and a 1 year high of $52.28.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EIG shares. Zacks Research raised shares of Employers from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Employers in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Employers Company 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.