Eagle Asset Management Inc. Cuts Holdings in Employers Holdings, Inc. (NYSE:EIG)

Eagle Asset Management Inc. cut its holdings in Employers Holdings, Inc. (NYSE:EIG) by 27.1% during the third quarter, Holdings Channel reports. The institutional investor owned 140,410 shares of the financial services provider’s stock after selling 52,204 shares during the quarter. Eagle Asset Management Inc.’s holdings in Employers were worth $6,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Employers by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,103,051 shares of the financial services provider’s stock valued at $89,653,000 after acquiring an additional 13,889 shares during the period. LSV Asset Management lifted its stake in shares of Employers by 33.5% in the second quarter. LSV Asset Management now owns 1,066,245 shares of the financial services provider’s stock valued at $45,454,000 after purchasing an additional 267,419 shares during the period. American Century Companies Inc. boosted its holdings in Employers by 24.2% during the second quarter. American Century Companies Inc. now owns 458,722 shares of the financial services provider’s stock worth $19,555,000 after buying an additional 89,429 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Employers by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 418,784 shares of the financial services provider’s stock worth $20,089,000 after buying an additional 1,296 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Employers by 1.6% during the third quarter. Assenagon Asset Management S.A. now owns 200,660 shares of the financial services provider’s stock worth $9,626,000 after buying an additional 3,257 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.

Employers Price Performance

Shares of EIG opened at $53.25 on Monday. Employers Holdings, Inc. has a 1-year low of $37.54 and a 1-year high of $54.44. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 9.97 and a beta of 0.24. The firm has a 50 day simple moving average of $49.41 and a 200-day simple moving average of $46.08.

Employers (NYSE:EIG) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $225.19 million. Employers had a return on equity of 9.78% and a net margin of 15.27%. On average, equities analysts expect that Employers Holdings, Inc. will post 3.65 earnings per share for the current fiscal year.

Employers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.25%. Employers’s dividend payout ratio is currently 22.47%.

Analysts Set New Price Targets

EIG has been the subject of a number of research reports. StockNews.com downgraded shares of Employers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. JMP Securities raised Employers to a “hold” rating in a report on Thursday, August 1st. Finally, Truist Financial upped their target price on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a report on Friday, November 1st.

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.