First Allied Advisory Services Inc. Takes Position in Employers Holdings Inc (EIG)
First Allied Advisory Services Inc. purchased a new stake in shares of Employers Holdings Inc (NYSE:EIG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,060 shares of the financial services provider’s stock, valued at approximately $215,000.
Other large investors have also made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in shares of Employers Holdings during the first quarter valued at $101,000. Riverhead Capital Management LLC lifted its holdings in shares of Employers Holdings by 64.5% during the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,097 shares in the last quarter. Ifrah Financial Services Inc. bought a new position in shares of Employers Holdings during the second quarter valued at $205,000. Stifel Financial Corp bought a new position in shares of Employers Holdings during the second quarter valued at $214,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Employers Holdings by 25.3% during the first quarter. Victory Capital Management Inc. now owns 5,768 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 1,163 shares in the last quarter. 77.33% of the stock is currently owned by hedge funds and other institutional investors.
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Employers Holdings (NYSE:EIG) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The business had revenue of $191.10 million during the quarter, compared to analysts’ expectations of $194.78 million. Employers Holdings had a return on equity of 10.25% and a net margin of 13.72%.
A number of research analysts have weighed in on the company. Buckingham Research assumed coverage on Employers Holdings in a report on Monday, September 11th. They issued an “underperform” rating and a $36.00 target price on the stock. Zacks Investment Research downgraded Employers Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, BidaskClub downgraded Employers Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.00.
About Employers Holdings
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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