Assenagon Asset Management S.A. Cuts Stake in Employers Holdings, Inc. (NYSE:EIG)

Assenagon Asset Management S.A. decreased its position in shares of Employers Holdings, Inc. (NYSE:EIG - Free Report) by 53.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,174 shares of the financial services provider's stock after selling 89,912 shares during the period. Assenagon Asset Management S.A. owned about 0.31% of Employers worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of 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 valued at $101,000 after acquiring an additional 302 shares during the last quarter. Advisor Partners II LLC grew its holdings in Employers by 1.9% in the first quarter. Advisor Partners II LLC now owns 17,452 shares of the financial services provider's stock worth $728,000 after purchasing an additional 317 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Employers by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,127 shares of the financial services provider's stock worth $214,000 after purchasing an additional 349 shares during the period. Swiss National Bank grew its holdings in Employers by 0.7% in the third quarter. Swiss National Bank now owns 59,100 shares of the financial services provider's stock worth $2,361,000 after purchasing an additional 400 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in Employers by 1.8% in the third quarter. GSA Capital Partners LLP now owns 25,667 shares of the financial services provider's stock worth $1,025,000 after purchasing an additional 466 shares during the period. Institutional investors and hedge funds own 80.49% of the company's stock.

Analyst Ratings Changes

EIG has been the subject of a number of research reports. Truist Financial raised their price target on shares of Employers from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, February 20th. Janney Montgomery Scott cut shares of Employers from a "buy" rating to a "neutral" rating in a report on Tuesday, February 27th.

Employers Price Performance

Shares of NYSE EIG traded up $0.16 during mid-day trading on Wednesday, reaching $45.06. 141,663 shares of the company's stock traded hands, compared to its average volume of 140,349. Employers Holdings, Inc. has a 1-year low of $35.43 and a 1-year high of $46.78. The stock has a market cap of $1.14 billion, a P/E ratio of 10.08 and a beta of 0.24. The business has a 50-day simple moving average of $43.86 and a 200 day simple moving average of $40.88.

Employers (NYSE:EIG - Get Free Report) last released its quarterly earnings results on Friday, February 16th. The financial services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.40. Employers had a net margin of 13.88% and a return on equity of 10.54%. The business had revenue of $225.70 million for the quarter, compared to analysts' expectations of $215.38 million. During the same period in the previous year, the company earned $1.25 earnings per share. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Employers Holdings, Inc. will post 3.73 earnings per share for the current fiscal year.

Employers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 28th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.49%. The ex-dividend date was Tuesday, February 27th. Employers's dividend payout ratio is 25.06%.

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.