Employers Holdings Inc (NYSE:EIG) Short Interest Update

Employers Holdings Inc (NYSE:EIG) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 843,290 shares, a growth of 40.7% from the December 31st total of 599,286 shares. Based on an average daily volume of 334,009 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.8% of the shares of the stock are sold short. Approximately 3.8% of the shares of the stock are sold short. Based on an average daily volume of 334,009 shares, the days-to-cover ratio is currently 2.5 days.

Employers Stock Down 2.3%

EIG stock opened at $43.66 on Friday. Employers has a 52-week low of $35.73 and a 52-week high of $52.28. The stock has a market cap of $981.45 million, a price-to-earnings ratio of 17.26 and a beta of 0.58. The business has a fifty day moving average of $42.59 and a two-hundred day moving average of $42.12.

Employers (NYSE:EIG) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported ($1.10) EPS for the quarter, missing the consensus estimate of $0.61 by ($1.71). The business had revenue of $239.30 million during the quarter, compared to analyst estimates of $216.60 million. Employers had a net margin of 6.91% and a return on equity of 3.38%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. As a group, sell-side analysts anticipate that Employers will post 3.63 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Employers in a research note on Monday, December 29th. Zacks Research raised shares of Employers from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Insiders Place Their Bets

In related news, EVP Michael Pedraja bought 5,500 shares of the stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average cost of $37.09 per share, for a total transaction of $203,995.00. Following the acquisition, the executive vice president directly owned 17,830 shares in the company, valued at approximately $661,314.70. This trade represents a 44.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Qube Research & Technologies Ltd increased its position in shares of Employers by 93.1% during the second quarter. Qube Research & Technologies Ltd now owns 264,078 shares of the financial services provider’s stock valued at $12,459,000 after acquiring an additional 127,330 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Employers by 326.5% during the 3rd quarter. Bridgeway Capital Management LLC now owns 141,611 shares of the financial services provider’s stock worth $6,016,000 after purchasing an additional 108,411 shares during the period. UBS Group AG increased its holdings in Employers by 125.0% in the 3rd quarter. UBS Group AG now owns 181,341 shares of the financial services provider’s stock valued at $7,703,000 after purchasing an additional 100,751 shares during the last quarter. Norges Bank purchased a new stake in Employers in the second quarter valued at approximately $3,859,000. Finally, Two Sigma Investments LP raised its position in Employers by 62.4% in the third quarter. Two Sigma Investments LP now owns 181,591 shares of the financial services provider’s stock valued at $7,714,000 after purchasing an additional 69,741 shares during the period. Hedge funds and other institutional investors own 80.49% of the company’s stock.

About Employers

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.