Municipal Employees Retirement System of Michigan Buys 4,520 Shares of Employers Holdings, Inc. (EIG)
Municipal Employees Retirement System of Michigan increased its stake in shares of Employers Holdings, Inc. (NYSE:EIG) by 41.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,510 shares of the financial services provider’s stock after acquiring an additional 4,520 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Employers were worth $705,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in EIG. Teachers Advisors LLC raised its position in shares of Employers by 342.9% in the 2nd quarter. Teachers Advisors LLC now owns 243,804 shares of the financial services provider’s stock valued at $10,313,000 after purchasing an additional 188,754 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Employers by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,442,581 shares of the financial services provider’s stock valued at $103,322,000 after purchasing an additional 91,595 shares in the last quarter. State Street Corp raised its position in shares of Employers by 11.8% in the 2nd quarter. State Street Corp now owns 857,434 shares of the financial services provider’s stock valued at $36,267,000 after purchasing an additional 90,172 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Employers by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,878,592 shares of the financial services provider’s stock valued at $121,764,000 after purchasing an additional 80,745 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of Employers by 20.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 433,061 shares of the financial services provider’s stock valued at $18,319,000 after purchasing an additional 74,415 shares in the last quarter. 77.42% of the stock is currently owned by hedge funds and other institutional investors.
EIG has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Employers from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. SunTrust Banks reiterated a “buy” rating and issued a $53.00 price target on shares of Employers in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $47.33.
Shares of Employers Holdings, Inc. (NYSE EIG) opened at $49.65 on Thursday. Employers Holdings, Inc. has a twelve month low of $34.88 and a twelve month high of $50.45. The firm has a market capitalization of $1,621.53, a P/E ratio of 18.05 and a beta of 1.13.
Employers (NYSE:EIG) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.08. Employers had a return on equity of 10.39% and a net margin of 13.32%. The business had revenue of $210.50 million during the quarter, compared to the consensus estimate of $193.04 million. sell-side analysts expect that Employers Holdings, Inc. will post 2.39 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were issued a $0.15 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.21%. Employers’s dividend payout ratio (DPR) is 18.81%.
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Employers 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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