Employers Holdings, Inc. (NYSE:EIG) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its stake in shares of Employers Holdings, Inc. (NYSE:EIG) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,918 shares of the financial services provider’s stock after selling 290 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Employers worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of EIG. SG Americas Securities LLC acquired a new stake in shares of Employers in the 3rd quarter valued at approximately $198,000. Inspire Advisors LLC lifted its holdings in shares of Employers by 27.6% in the 3rd quarter. Inspire Advisors LLC now owns 22,010 shares of the financial services provider’s stock valued at $879,000 after buying an additional 4,756 shares during the period. Inspire Investing LLC lifted its holdings in shares of Employers by 172.5% in the 3rd quarter. Inspire Investing LLC now owns 22,964 shares of the financial services provider’s stock valued at $917,000 after buying an additional 14,536 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Employers by 55.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 93,757 shares of the financial services provider’s stock valued at $3,746,000 after buying an additional 33,282 shares during the period. Finally, Meritage Portfolio Management acquired a new stake in shares of Employers in the 3rd quarter valued at approximately $314,000. 80.49% of the stock is owned by institutional investors and hedge funds.

Employers Price Performance

NYSE EIG opened at $42.59 on Wednesday. Employers Holdings, Inc. has a 1-year low of $35.43 and a 1-year high of $46.78. The company has a market capitalization of $1.08 billion, a P/E ratio of 9.02 and a beta of 0.24. The business has a 50 day moving average price of $44.41 and a 200 day moving average price of $41.32.

Employers (NYSE:EIG) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.02). The company had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $217.46 million. Employers had a return on equity of 10.49% and a net margin of 14.16%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. On average, research analysts expect that Employers Holdings, Inc. will post 3.73 earnings per share for the current fiscal year.

Employers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.30 per share. This is an increase from Employers’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, May 7th. This represents a $1.20 annualized dividend and a yield of 2.82%. Employers’s dividend payout ratio (DPR) is presently 23.73%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EIG shares. Janney Montgomery Scott downgraded Employers from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. Truist Financial raised their price objective on Employers from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th.

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.