Royal Bank of Canada Boosts Stake in Employers Holdings Inc (EIG)
Royal Bank of Canada grew its position in shares of Employers Holdings Inc (NYSE:EIG) by 84.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 18,801 shares of the financial services provider’s stock after acquiring an additional 8,602 shares during the quarter. Royal Bank of Canada owned about 0.06% of Employers Holdings worth $794,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Employers Holdings by 56,909.6% during the 1st quarter. BlackRock Inc. now owns 4,130,349 shares of the financial services provider’s stock valued at $156,746,000 after buying an additional 4,123,104 shares during the period. Teachers Advisors LLC raised its holdings in Employers Holdings by 342.9% during the 2nd quarter. Teachers Advisors LLC now owns 243,804 shares of the financial services provider’s stock valued at $10,313,000 after buying an additional 188,754 shares during the period. Vanguard Group Inc. raised its holdings in Employers Holdings by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 2,797,847 shares of the financial services provider’s stock valued at $106,177,000 after buying an additional 147,837 shares during the period. Dimensional Fund Advisors LP raised its holdings in Employers Holdings by 3.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,442,581 shares of the financial services provider’s stock valued at $103,322,000 after buying an additional 91,595 shares during the period. Finally, Thrivent Financial For Lutherans raised its holdings in Employers Holdings by 35.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 282,949 shares of the financial services provider’s stock valued at $11,969,000 after buying an additional 73,842 shares during the period. Hedge funds and other institutional investors own 77.50% of the company’s stock.
Shares of Employers Holdings Inc (NYSE EIG) opened at $47.80 on Wednesday. Employers Holdings Inc has a twelve month low of $29.95 and a twelve month high of $49.60. The firm has a market capitalization of $1,564.78, a price-to-earnings ratio of 17.42 and a beta of 1.13.
Employers Holdings (NYSE:EIG) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. Employers Holdings had a return on equity of 10.39% and a net margin of 13.32%. The business had revenue of $210.50 million for the quarter, compared to analyst estimates of $193.04 million. analysts forecast that Employers Holdings Inc will post 2.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. Employers Holdings’s payout ratio is 18.81%.
EIG has been the topic of several recent research reports. Zacks Investment Research lowered Employers Holdings from a “buy” rating to a “hold” rating in a report on Monday, September 25th. SunTrust Banks, Inc. restated a “buy” rating and set a $53.00 price target on shares of Employers Holdings in a report on Friday, October 27th. BidaskClub lowered Employers Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Buckingham Research initiated coverage on Employers Holdings in a report on Monday, September 11th. They set an “underperform” rating and a $36.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Employers Holdings currently has a consensus rating of “Hold” and a consensus price target of $47.33.
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Employers Holdings Profile
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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