Wesbanco Bank Inc. Purchases New Stake in Employers Holdings, Inc. (NYSE:EIG)

Wesbanco Bank Inc. purchased a new stake in Employers Holdings, Inc. (NYSE:EIG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,600 shares of the financial services provider's stock, valued at approximately $1,162,000. Wesbanco Bank Inc. owned approximately 0.10% of Employers at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of Employers by 13.6% in 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 buying an additional 302 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Employers in the third quarter valued at approximately $198,000. Aigen Investment Management LP purchased a new stake in shares of Employers in the third quarter valued at approximately $226,000. Los Angeles Capital Management LLC purchased a new stake in shares of Employers in the third quarter valued at approximately $298,000. Finally, Meritage Portfolio Management purchased a new stake in shares of Employers in the third quarter valued at approximately $314,000. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial lifted their price objective on 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 Employers from a "buy" rating to a "neutral" rating in a report on Tuesday, February 27th.

Employers Stock Performance

EIG stock traded down $0.49 during midday trading on Friday, hitting $42.71. 119,844 shares of the stock were exchanged, compared to its average volume of 137,919. The stock's 50-day moving average price is $44.23 and its 200-day moving average price is $41.36. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 9.05 and a beta of 0.25. Employers Holdings, Inc. has a fifty-two week low of $35.43 and a fifty-two week high of $46.78.

Employers (NYSE:EIG - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02). Employers had a return on equity of 10.49% and a net margin of 14.16%. The firm had revenue of $223.10 million for the quarter, compared to analyst estimates of $217.46 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts anticipate that Employers Holdings, Inc. will post 3.65 EPS for the current 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 issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.81%. This is a boost from Employers's previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, May 7th. Employers's payout ratio is 23.73%.

Employers 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.

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