Employers Holdings Inc (EIG) Shares Sold by State of Tennessee Treasury Department
State of Tennessee Treasury Department trimmed its position in shares of Employers Holdings Inc (NYSE:EIG) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,908 shares of the financial services provider’s stock after selling 1,764 shares during the period. State of Tennessee Treasury Department owned approximately 0.09% of Employers Holdings worth $1,268,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in EIG. Piedmont Investment Advisors LLC acquired a new stake in Employers Holdings in the 2nd quarter valued at $295,000. Prudential Financial Inc. increased its holdings in Employers Holdings by 12.6% in the 2nd quarter. Prudential Financial Inc. now owns 402,566 shares of the financial services provider’s stock valued at $17,028,000 after purchasing an additional 45,088 shares in the last quarter. Aviance Capital Partners LLC increased its holdings in Employers Holdings by 1.0% in the 2nd quarter. Aviance Capital Partners LLC now owns 45,765 shares of the financial services provider’s stock valued at $1,936,000 after purchasing an additional 448 shares in the last quarter. Vanguard Group Inc. increased its holdings in Employers Holdings by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 2,797,847 shares of the financial services provider’s stock valued at $106,177,000 after purchasing an additional 147,837 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Employers Holdings by 4.1% in the 2nd quarter. California Public Employees Retirement System now owns 69,200 shares of the financial services provider’s stock valued at $2,927,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors and hedge funds own 77.02% of the company’s stock.
Employers Holdings Inc (NYSE EIG) traded down $0.45 during trading hours on Friday, reaching $48.90. 66,900 shares of the company’s stock were exchanged, compared to its average volume of 100,631. The stock has a market cap of $1,585.86, a PE ratio of 17.65 and a beta of 1.13. Employers Holdings Inc has a one year low of $34.88 and a one year high of $49.65.
Employers Holdings (NYSE:EIG) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. The company had revenue of $210.50 million during the quarter, compared to analysts’ expectations of $193.04 million. Employers Holdings had a net margin of 13.32% and a return on equity of 10.39%. analysts forecast that Employers Holdings Inc will post 2.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.23%. Employers Holdings’s payout ratio is currently 18.81%.
Several brokerages recently issued reports on EIG. Zacks Investment Research upgraded Employers Holdings from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Monday, October 30th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $53.00 price objective on shares of Employers Holdings in a research report on Friday, October 27th. Finally, Buckingham Research began coverage on shares of Employers Holdings in a research report on Monday, September 11th. They issued an “underperform” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.33.
Employers Holdings Company Profile
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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