BlackRock Inc. Invests $130.26 Million in Employers Holdings Inc $EIG

BlackRock Inc. bought a new stake in Employers Holdings Inc (NYSE:EIG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,580,388 shares of the financial services provider's stock, valued at approximately $130,258,000. BlackRock Inc. owned about 14.37% of Employers at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EIG. Clearstead Advisors LLC increased its stake in Employers by 145.5% in the 4th quarter. Clearstead Advisors LLC now owns 621 shares of the financial services provider's stock worth $27,000 after purchasing an additional 368 shares during the period. Bessemer Group Inc. boosted its stake in shares of Employers by 227.1% during the first quarter. Bessemer Group Inc. now owns 651 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 452 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Employers by 133.5% during the second quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 363 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Employers in the second quarter worth approximately $35,000. Finally, Global Retirement Partners LLC bought a new position in shares of Employers in the second quarter worth approximately $41,000. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Employers from a "sell" rating to a "hold" rating in a report on Saturday, June 13th. Weiss Ratings upgraded shares of Employers from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, June 26th. Zacks Research downgraded shares of Employers from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Finally, Truist Financial upped their price objective on shares of Employers from $49.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $59.00.

Employers Stock Up 0.4%

EIG stock opened at $49.21 on Friday. Employers Holdings Inc has a fifty-two week low of $35.73 and a fifty-two week high of $52.59. The business's 50 day moving average price is $49.72 and its two-hundred day moving average price is $44.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market capitalization of $883.81 million, a price-to-earnings ratio of 71.32 and a beta of 0.47.

Employers (NYSE:EIG - Get Free Report) last announced 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 return on equity of 1.30% and a net margin of 0.91%.The firm had revenue of $220.20 million during the quarter, compared to analyst estimates of $203.51 million. During the same quarter in the prior year, the company earned $0.48 EPS. The business's revenue was down 10.6% compared to the same quarter last year. As a group, analysts forecast that Employers Holdings Inc will post 2.23 earnings per share for the current fiscal year.

Employers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $1.36 annualized dividend and a yield of 2.8%. Employers's dividend payout ratio (DPR) is currently 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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