Hsbc Holdings PLC Makes New $621,000 Investment in Employers Holdings Inc $EIG

Hsbc Holdings PLC bought a new stake in Employers Holdings Inc (NYSE:EIG) during the second quarter, HoldingsChannel reports. The institutional investor bought 12,109 shares of the financial services provider’s stock, valued at approximately $621,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EIG. BlackRock Inc. bought a new stake in shares of Employers in the 2nd quarter worth approximately $130,258,000. Goldman Sachs Group Inc. grew its holdings in Employers by 126.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 329,479 shares of the financial services provider’s stock valued at $14,224,000 after purchasing an additional 183,828 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Employers by 69.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 388,769 shares of the financial services provider’s stock valued at $16,783,000 after purchasing an additional 159,956 shares during the period. Qube Research & Technologies Ltd increased its position in Employers by 93.1% in the second quarter. Qube Research & Technologies Ltd now owns 264,078 shares of the financial services provider’s stock worth $12,459,000 after buying an additional 127,330 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Employers in the second quarter worth $6,135,000. 80.49% of the stock is owned by institutional investors.

Employers Stock Up 0.7%

EIG opened at $49.45 on Thursday. The company has a 50 day moving average of $49.80 and a 200 day moving average of $45.04. The company has a market cap of $888.17 million, a PE ratio of 71.67 and a beta of 0.47. Employers Holdings Inc has a 12 month low of $35.73 and a 12 month high of $52.59. 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 (NYSE:EIG) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.13. Employers had a net margin of 0.91% and a return on equity of 1.30%. The business had revenue of $220.20 million during the quarter, compared to analyst estimates of $203.51 million. Employers’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. On average, sell-side analysts expect that Employers Holdings Inc will post 2.23 EPS for the current year.

Employers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a $0.34 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. Employers’s payout ratio is 197.10%.

Analysts Set New Price Targets

Several analysts have issued reports 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. Wall Street Zen raised Employers from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Truist Financial lifted their price objective on Employers from $49.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.