27,580 Shares in Employers Holdings Inc $EIG Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new position in shares of Employers Holdings Inc (NYSE:EIG) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 27,580 shares of the financial services provider’s stock, valued at approximately $1,135,000.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada increased its stake in Employers by 32.8% in the 1st quarter. Royal Bank of Canada now owns 6,037 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 1,490 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Employers by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,685 shares of the financial services provider’s stock valued at $744,000 after acquiring an additional 644 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Employers by 9.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 67,992 shares of the financial services provider’s stock valued at $3,443,000 after acquiring an additional 5,696 shares in the last quarter. Jane Street Group LLC boosted its stake in Employers by 738.8% in the 1st quarter. Jane Street Group LLC now owns 40,448 shares of the financial services provider’s stock worth $2,048,000 after purchasing an additional 35,626 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Employers by 8.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 81,609 shares of the financial services provider’s stock worth $3,850,000 after purchasing an additional 6,410 shares during the period. 80.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on EIG shares. Weiss Ratings raised shares of Employers from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Zacks Research cut Employers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded Employers from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Employers Stock Performance

EIG stock opened at $51.14 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $932.78 million, a price-to-earnings ratio of 154.97 and a beta of 0.46. Employers Holdings Inc has a 12 month low of $35.73 and a 12 month high of $51.51. The firm has a 50 day moving average of $44.56 and a two-hundred day moving average of $43.16.

Employers (NYSE:EIG) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Employers had a net margin of 0.95% and a return on equity of 1.10%. The business had revenue of $207.60 million for the quarter, compared to the consensus estimate of $213.04 million. During the same quarter in the prior year, the business posted $0.87 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Employers Holdings Inc will post 2.15 EPS for the current fiscal year.

Employers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.7%. This is an increase from Employers’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, May 13th. Employers’s dividend payout ratio is 412.12%.

Employers 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.