Strs Ohio Purchases New Position in Employers Holdings Inc $EIG

Key Points

• Strs Ohio acquired 13,500 shares of Employers Holdings Inc, valued at approximately $684,000, indicating growing institutional investment in the company.
• Employers Holdings reported a missed earnings target for the last quarter, with earnings per share of $0.48 compared to the expected $0.94, despite a revenue increase of 13.5% year-over-year.
• The company recently declared a quarterly dividend of $0.32 per share, which reflects an annualized yield of 3.0% on the stock price.

Strs Ohio acquired a new stake in shares of Employers Holdings Inc (NYSE:EIG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 13,500 shares of the financial services provider's stock, valued at approximately $684,000. Strs Ohio owned about 0.06% of Employers at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in shares of Employers in the 4th quarter valued at $48,000. GAMMA Investing LLC grew its position in shares of Employers by 16.4% during the 1st quarter. GAMMA Investing LLC now owns 2,147 shares of the financial services provider's stock valued at $109,000 after acquiring an additional 302 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Employers by 8.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,895 shares of the financial services provider's stock valued at $147,000 after acquiring an additional 215 shares during the period. XTX Topco Ltd acquired a new stake in shares of Employers during the 1st quarter valued at about $294,000. Finally, Royal Bank of Canada boosted its holdings 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 buying an additional 1,490 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Employers from a "hold" rating to a "sell" rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $58.00.

Employers Stock Performance

Shares of NYSE:EIG traded up $0.05 during trading on Monday, hitting $42.29. The company's stock had a trading volume of 58,084 shares, compared to its average volume of 174,767. The business has a 50 day moving average price of $43.15 and a two-hundred day moving average price of $46.53. The company has a market capitalization of $994.24 million, a PE ratio of 10.32 and a beta of 0.53. Employers Holdings Inc has a fifty-two week low of $38.19 and a fifty-two week high of $54.44.

Employers (NYSE:EIG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.94 by ($0.46). The firm had revenue of $246.30 million for the quarter, compared to analyst estimates of $217.17 million. Employers had a return on equity of 7.56% and a net margin of 11.37%.The business's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. As a group, equities analysts expect that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were given a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. Employers's payout ratio is 31.22%.

Employers Company Profile

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers' compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.