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

Employers Holdings, Inc. (NYSE:EIG) was the target of 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 company’s stock are sold short. Based on an average daily trading volume, of 138,400 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Investors Weigh In On Employers

A number of large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in Employers by 13.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,516 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 302 shares during the last quarter. Advisor Partners II LLC boosted its position in Employers by 1.9% in the 1st quarter. Advisor Partners II LLC now owns 17,452 shares of the financial services provider’s stock valued at $728,000 after buying an additional 317 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Employers by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,127 shares of the financial services provider’s stock valued at $214,000 after buying an additional 349 shares during the last quarter. Swiss National Bank boosted its position in Employers by 0.7% in the 3rd quarter. Swiss National Bank now owns 59,100 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 400 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in Employers by 1.8% in the 3rd quarter. GSA Capital Partners LLP now owns 25,667 shares of the financial services provider’s stock valued at $1,025,000 after buying an additional 466 shares during the last quarter. 80.49% of the stock is currently owned by institutional investors.

Employers Price Performance

Shares of NYSE EIG opened at $42.48 on Thursday. The business’s 50-day moving average price is $44.29 and its two-hundred day moving average price is $41.06. Employers has a one year low of $35.43 and a one year high of $46.78. The company has a market capitalization of $1.08 billion, a P/E ratio of 9.50 and a beta of 0.24.

Employers (NYSE:EIG) last released its quarterly earnings results on Friday, February 16th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.40. The company had revenue of $225.70 million during the quarter, compared to the consensus estimate of $215.38 million. Employers had a return on equity of 10.54% and a net margin of 13.88%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. On average, equities analysts anticipate that Employers will post 3.73 EPS for the current year.

Employers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, February 28th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 2.64%. Employers’s dividend payout ratio (DPR) is presently 25.06%.

Analysts Set New Price Targets

A number of research analysts have commented on EIG shares. Truist Financial boosted their target price on Employers from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Janney Montgomery Scott downgraded Employers from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th.

Employers Company 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.