Royce & Associates LP Increases Holdings in Employers Holdings, Inc. (NYSE:EIG)

Royce & Associates LP increased its stake in Employers Holdings, Inc. (NYSE:EIG) by 24.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 34,393 shares of the financial services provider’s stock after acquiring an additional 6,806 shares during the period. Royce & Associates LP’s holdings in Employers were worth $1,650,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC purchased a new position in Employers during the first quarter worth $235,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Employers by 101.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,436 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 7,766 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Employers by 27.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 39,738 shares of the financial services provider’s stock valued at $1,804,000 after purchasing an additional 8,604 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in Employers in the 1st quarter worth about $353,000. Finally, Bessemer Group Inc. lifted its stake in Employers by 983.8% in the first quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,033 shares during the last quarter. 80.49% of the stock is owned by institutional investors.

Employers Stock Performance

Employers stock opened at $52.52 on Wednesday. The company has a market capitalization of $1.30 billion, a PE ratio of 9.83 and a beta of 0.24. The company has a 50 day moving average price of $48.95 and a 200-day moving average price of $45.82. Employers Holdings, Inc. has a fifty-two week low of $37.40 and a fifty-two week high of $54.44.

Employers (NYSE:EIG) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Employers had a return on equity of 9.78% and a net margin of 15.27%. The business had revenue of $224.00 million during the quarter, compared to analyst estimates of $225.19 million. On average, analysts forecast that Employers Holdings, Inc. will post 3.63 earnings per share for the current year.

Employers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Wednesday, November 13th. Employers’s dividend payout ratio (DPR) is presently 22.47%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EIG shares. JMP Securities raised Employers to a “hold” rating in a research note on Thursday, August 1st. StockNews.com downgraded Employers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Truist Financial lifted their target price on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, November 1st.

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.