105,867 Shares in Employers Holdings Inc $EIG Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 105,867 shares of Employers Holdings, valued at approximately $5.34 million and representing about 0.59% of the company. Institutional investors collectively own 80.49% of EIG.
• Analyst sentiment remains cautious: EIG has an average “Hold” rating and a $59 price target, although Truist Financial raised its target from $49 to $59 and maintained a “Buy” rating.
• Employers exceeded quarterly earnings expectations, reporting $0.70 EPS versus $0.57 expected and revenue of $220.2 million, while declaring a $0.34 quarterly dividend yielding about 2.8%.

Empowered Funds LLC acquired a new stake in shares of Employers Holdings Inc (NYSE:EIG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 105,867 shares of the financial services provider's stock, valued at approximately $5,344,000. Empowered Funds LLC owned about 0.59% of Employers as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Truist Financial upped their price objective on Employers from $49.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Weiss Ratings raised Employers from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, June 26th. Finally, Wall Street Zen upgraded Employers from a "sell" rating to a "hold" rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $59.00.

Employers Stock Down 0.3%

EIG opened at $49.00 on Tuesday. The stock has a market capitalization of $880.04 million, a price-to-earnings ratio of 71.01 and a beta of 0.47. The firm has a 50 day moving average price of $49.77 and a 200-day moving average price of $44.95. Employers Holdings Inc has a twelve month low of $35.73 and a twelve month high of $52.59. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.15.

Employers (NYSE:EIG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.13. Employers had a net margin of 0.91% and a return on equity of 1.30%. The company had revenue of $220.20 million for the quarter, compared to analysts' expectations of $203.51 million. During the same quarter last year, the company posted $0.48 earnings per share. The firm's quarterly revenue was down 10.6% on a year-over-year basis. Equities research analysts forecast that Employers Holdings Inc will post 2.23 earnings per share for the current year.

Employers Announces Dividend

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

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.

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