Short Interest in Employers Holdings, Inc. (NYSE:EIG) Increases By 18.8%

Employers Holdings, Inc. (NYSE:EIG - Get Free Report) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 365,700 shares, a growth of 18.8% from the April 15th total of 307,800 shares. Based on an average daily trading volume, of 144,400 shares, the short-interest ratio is presently 2.5 days. Approximately 1.5% of the company's stock are short sold.

Employers Trading Down 1.9 %

EIG stock traded down $0.82 during midday trading on Tuesday, hitting $42.49. 169,233 shares of the company's stock were exchanged, compared to its average volume of 136,583. The firm has a 50 day moving average price of $43.89 and a 200-day moving average price of $41.59. Employers has a 12-month low of $35.43 and a 12-month high of $46.78. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.00 and a beta of 0.25.

Employers (NYSE:EIG - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.02). Employers had a return on equity of 10.49% and a net margin of 14.16%. The company had revenue of $223.10 million during the quarter, compared to the consensus estimate of $217.46 million. During the same quarter last year, the firm posted $0.60 EPS. The firm's quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Employers will post 3.65 EPS for the current fiscal year.

Employers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.30 per share. This is a boost from Employers's previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, May 7th. This represents a $1.20 annualized dividend and a dividend yield of 2.82%. Employers's dividend payout ratio (DPR) is presently 25.42%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EIG. Janney Montgomery Scott downgraded Employers from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 27th. Truist Financial upped their target price on Employers from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, February 20th.

Hedge Funds Weigh In On Employers

A number of hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in Employers by 983.8% during the first quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 1,033 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Employers by 13.6% during the third quarter. PNC Financial Services Group Inc. now owns 2,516 shares of the financial services provider's stock worth $101,000 after acquiring an additional 302 shares during the period. Mutual of America Capital Management LLC acquired a new stake in Employers during the first quarter worth about $201,000. SG Americas Securities LLC bought a new position in Employers in the third quarter worth about $198,000. Finally, ProShare Advisors LLC acquired a new position in Employers in the first quarter valued at approximately $235,000. 80.49% of the stock is currently owned by institutional investors and hedge funds.

About Employers

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.