Employers Holdings, Inc. (NYSE:EIG) Short Interest Update

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EIG shares. Truist Financial lifted 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. Janney Montgomery Scott downgraded shares of Employers from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 27th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Employers by 13.6% during the third quarter. PNC Financial Services Group Inc. now owns 2,516 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 302 shares in the last quarter. Advisor Partners II LLC raised its position in Employers by 1.9% during the first quarter. Advisor Partners II LLC now owns 17,452 shares of the financial services provider’s stock valued at $728,000 after purchasing an additional 317 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Employers by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,127 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 349 shares in the last quarter. Swiss National Bank raised its position in Employers by 0.7% during the third quarter. Swiss National Bank now owns 59,100 shares of the financial services provider’s stock valued at $2,361,000 after purchasing an additional 400 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in Employers by 1.8% during the third quarter. GSA Capital Partners LLP now owns 25,667 shares of the financial services provider’s stock valued at $1,025,000 after purchasing an additional 466 shares in the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.

Employers Trading Down 0.1 %

NYSE EIG opened at $42.48 on Thursday. Employers has a 1-year low of $35.43 and a 1-year high of $46.78. The company has a 50 day moving average of $44.29 and a 200-day moving average of $41.06. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 9.50 and a beta of 0.24.

Employers (NYSE:EIG) last announced its quarterly earnings data 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 net margin of 13.88% and a return on equity of 10.54%. The business had revenue of $225.70 million during the quarter, compared to the consensus estimate of $215.38 million. During the same period in the previous year, the business earned $1.25 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Employers will post 3.73 earnings per share for the current year.

Employers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.12 annualized dividend and a yield of 2.64%. Employers’s dividend payout ratio is currently 25.06%.

About Employers

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.