Empowered Funds LLC Takes Position in Employers Holdings Inc $EIG

Empowered Funds LLC acquired a new position in Employers Holdings Inc (NYSE:EIG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 105,867 shares of the financial services provider’s stock, valued at approximately $5,344,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in Employers during the second quarter valued at approximately $1,332,000. Bank of America Corp DE purchased a new position in shares of Employers during the 2nd quarter worth $3,966,000. Jupiter Topco LLC purchased a new position in shares of Employers during the 2nd quarter worth $412,000. Hsbc Holdings PLC purchased a new position in shares of Employers during the 2nd quarter worth $621,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Employers during the 2nd quarter valued at $262,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.

Employers Price Performance

NYSE EIG opened at $49.00 on Tuesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.15. Employers Holdings Inc has a 12 month low of $35.73 and a 12 month high of $52.59. The stock has a market cap of $880.04 million, a price-to-earnings ratio of 71.01 and a beta of 0.47. The company’s 50 day moving average is $49.77 and its two-hundred day moving average is $44.95.

Employers (NYSE:EIG) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.13. The business had revenue of $220.20 million during the quarter, compared to analyst estimates of $203.51 million. Employers had a net margin of 0.91% and a return on equity of 1.30%. The company’s revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. As a group, research analysts anticipate that Employers Holdings Inc will post 2.23 earnings per share for the current year.

Employers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, August 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.8%. Employers’s payout ratio is 197.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EIG shares. Weiss Ratings upgraded Employers from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Truist Financial boosted their price target on Employers from $49.00 to $59.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Employers from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Employers currently has a consensus rating of “Hold” and an average price target of $59.00.

Employers Company Profile

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.