Campbell & CO Investment Adviser LLC acquired a new stake in Employers Holdings, Inc. (NYSE:EIG) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 7,113 shares of the financial services provider’s stock, valued at approximately $310,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Anderson Fisher LLC purchased a new position in shares of Employers in the second quarter valued at about $80,000. Everence Capital Management Inc. purchased a new position in shares of Employers in the third quarter valued at about $203,000. 6 Meridian purchased a new position in shares of Employers in the second quarter valued at about $204,000. Capital Fund Management S.A. purchased a new position in shares of Employers in the second quarter valued at about $262,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of Employers in the second quarter valued at about $268,000. Hedge funds and other institutional investors own 80.25% of the company’s stock.
A number of equities research analysts have recently weighed in on EIG shares. Zacks Investment Research lowered shares of Employers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Boenning Scattergood reaffirmed a “buy” rating and set a $50.00 target price on shares of Employers in a research note on Thursday, July 25th.
Shares of EIG opened at $42.40 on Friday. The firm’s 50-day moving average price is $43.19 and its 200-day moving average price is $42.64. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.32 and a beta of 0.72. Employers Holdings, Inc. has a 1-year low of $39.31 and a 1-year high of $47.97.
Employers (NYSE:EIG) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.41. The firm had revenue of $204.30 million for the quarter, compared to analyst estimates of $206.19 million. Employers had a net margin of 19.82% and a return on equity of 12.98%. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, sell-side analysts expect that Employers Holdings, Inc. will post 2.73 earnings per share for the current fiscal year.
Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.
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