Employers Holdings, Inc. (NYSE:EIG) Short Interest Down 7.4% in October
Employers Holdings, Inc. (NYSE:EIG) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 863,000 shares, a decline of 7.4% from the September 30th total of 932,200 shares. Based on an average daily trading volume, of 112,900 shares, the short-interest ratio is currently 7.6 days. Currently, 2.8% of the company’s stock are short sold.
A number of hedge funds and other institutional investors have recently made changes to their positions in EIG. First Trust Advisors LP increased its holdings in Employers by 180.0% in the 1st quarter. First Trust Advisors LP now owns 99,978 shares of the financial services provider’s stock worth $4,010,000 after buying an additional 64,271 shares in the last quarter. Denali Advisors LLC boosted its position in Employers by 628.1% in the second quarter. Denali Advisors LLC now owns 10,200 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 8,799 shares during the last quarter. WINTON GROUP Ltd boosted its position in Employers by 107.9% in the second quarter. WINTON GROUP Ltd now owns 18,164 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 9,426 shares during the last quarter. 6 Meridian purchased a new position in Employers in the second quarter worth about $204,000. Finally, Bessemer Group Inc. boosted its position in Employers by 2.5% in the second quarter. Bessemer Group Inc. now owns 79,000 shares of the financial services provider’s stock worth $3,339,000 after purchasing an additional 1,900 shares during the last quarter. 80.22% of the stock is owned by institutional investors.
NYSE EIG traded down $0.54 during trading on Monday, reaching $41.96. 107,061 shares of the company’s stock were exchanged, compared to its average volume of 140,952. The stock has a market cap of $1.35 billion, a P/E ratio of 10.21 and a beta of 0.70. The company has a 50 day moving average price of $42.60 and a two-hundred day moving average price of $42.82. Employers has a 1 year low of $39.31 and a 1 year high of $47.45.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, November 5th. Employers’s dividend payout ratio (DPR) is 21.41%.
A number of brokerages have issued reports on EIG. Boenning Scattergood reaffirmed a “buy” rating and set a $50.00 price target on shares of Employers in a report on Thursday, July 25th. Zacks Investment Research raised Employers from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Monday, October 21st.
Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.
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