Employers Holdings, Inc. (NYSE:EIG) Short Interest Down 5.4% in March

Employers Holdings, Inc. (NYSE:EIG) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 365,300 shares, a decrease of 5.4% from the March 15th total of 386,100 shares. Based on an average trading volume of 138,400 shares, the short-interest ratio is presently 2.6 days. Approximately 1.5% of the shares of the stock are short sold.

Employers Stock Performance

EIG stock opened at $42.65 on Tuesday. Employers has a one year low of $35.43 and a one year high of $46.78. The firm has a market cap of $1.08 billion, a PE ratio of 9.54 and a beta of 0.24. The firm’s 50 day moving average price is $44.20 and its 200-day moving average price is $41.03.

Employers (NYSE:EIG) last announced its quarterly earnings results on Friday, February 16th. The financial services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.00 by $0.40. Employers had a return on equity of 10.54% and a net margin of 13.88%. The business had revenue of $225.70 million for the quarter, compared to analyst estimates of $215.38 million. During the same quarter in the prior year, the company posted $1.25 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts predict that Employers will post 3.73 EPS for the current fiscal year.

Employers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 28th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Tuesday, February 27th. Employers’s payout ratio is 25.06%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Employers in the 3rd quarter valued at approximately $36,000. Point72 Hong Kong Ltd increased its holdings in Employers by 510.1% during the 1st quarter. Point72 Hong Kong Ltd now owns 970 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 811 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Employers in the 2nd quarter valued at about $80,000. State of Wyoming purchased a new stake in shares of Employers during the fourth quarter worth approximately $86,000. Finally, UBS Group AG lifted its stake in Employers by 1,964.8% in the third quarter. UBS Group AG now owns 2,519 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 2,397 shares during the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.

Employers Company 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.