Employers Holdings Inc $EIG Shares Acquired by AlphaQuest LLC

AlphaQuest LLC boosted its position in Employers Holdings Inc (NYSE:EIG) by 60.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,997 shares of the financial services provider’s stock after purchasing an additional 13,953 shares during the quarter. AlphaQuest LLC’s holdings in Employers were worth $1,746,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in Employers in the 1st quarter valued at $9,814,000. LSV Asset Management grew its holdings in Employers by 7.1% in the 1st quarter. LSV Asset Management now owns 1,067,976 shares of the financial services provider’s stock valued at $54,082,000 after buying an additional 70,402 shares in the last quarter. American Century Companies Inc. boosted its holdings in Employers by 8.3% during the 1st quarter. American Century Companies Inc. now owns 611,947 shares of the financial services provider’s stock valued at $30,989,000 after acquiring an additional 46,793 shares during the period. Public Sector Pension Investment Board boosted its holdings in Employers by 58.5% during the 1st quarter. Public Sector Pension Investment Board now owns 97,607 shares of the financial services provider’s stock valued at $4,943,000 after acquiring an additional 36,037 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Employers by 738.8% during the 1st quarter. Jane Street Group LLC now owns 40,448 shares of the financial services provider’s stock valued at $2,048,000 after acquiring an additional 35,626 shares during the period. 80.49% of the stock is owned by institutional investors and hedge funds.

Employers Stock Performance

Shares of NYSE EIG opened at $41.52 on Friday. Employers Holdings Inc has a fifty-two week low of $38.19 and a fifty-two week high of $54.44. The firm has a market capitalization of $976.04 million, a PE ratio of 10.13 and a beta of 0.50. The stock’s 50-day simple moving average is $42.27 and its 200-day simple moving average is $45.25.

Employers (NYSE:EIG) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.46). The firm had revenue of $246.30 million during the quarter, compared to analysts’ expectations of $217.17 million. Employers had a net margin of 11.37% and a return on equity of 7.56%. Employers’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 EPS. On average, sell-side analysts forecast that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were given a dividend of $0.32 per share. The ex-dividend date was Wednesday, August 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.1%. Employers’s dividend payout ratio (DPR) is 31.22%.

Analyst Ratings Changes

A number of brokerages recently commented on EIG. Weiss Ratings restated a “hold (c)” rating on shares of Employers in a report on Friday. Zacks Research raised Employers from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Wall Street Zen lowered Employers from a “hold” rating to a “sell” rating in a research report on Monday, August 25th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Employers presently has a consensus rating of “Hold” and an average target price of $58.00.

Employers 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.