Employers Holdings Inc $EIG Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Employers Holdings Inc (NYSE:EIG) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,633 shares of the financial services provider’s stock after purchasing an additional 1,585 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management owned approximately 0.06% of Employers worth $643,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of EIG. State of Alaska Department of Revenue boosted its holdings in Employers by 4.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,307 shares of the financial services provider’s stock worth $674,000 after buying an additional 612 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Employers by 18.8% in the second quarter. Exchange Traded Concepts LLC now owns 47,323 shares of the financial services provider’s stock valued at $2,233,000 after acquiring an additional 7,505 shares in the last quarter. Strs Ohio purchased a new position in shares of Employers in the first quarter valued at approximately $684,000. Ellsworth Advisors LLC boosted its stake in shares of Employers by 7.0% in the first quarter. Ellsworth Advisors LLC now owns 14,097 shares of the financial services provider’s stock worth $714,000 after acquiring an additional 928 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Employers by 738.8% during the first quarter. Jane Street Group LLC now owns 40,448 shares of the financial services provider’s stock worth $2,048,000 after purchasing an additional 35,626 shares in the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EIG shares. Weiss Ratings restated a “hold (c)” rating on shares of Employers in a report on Saturday, September 27th. Zacks Research raised shares of Employers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wall Street Zen cut shares of Employers from a “hold” rating to a “sell” rating in a research note on Monday, August 25th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $58.00.

Employers Stock Up 1.1%

Shares of EIG opened at $42.62 on Monday. Employers Holdings Inc has a 52-week low of $38.19 and a 52-week high of $54.44. The stock has a fifty day simple moving average of $42.36 and a two-hundred day simple moving average of $46.02. The company has a market capitalization of $1.00 billion, a PE ratio of 10.40 and a beta of 0.50.

Employers (NYSE:EIG) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.46). Employers had a net margin of 11.37% and a return on equity of 7.56%. The firm had revenue of $246.30 million during the quarter, compared to analysts’ expectations of $217.17 million. During the same period in the prior year, the company posted $1.10 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities analysts anticipate that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.32 per share. The ex-dividend date was Wednesday, August 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. Employers’s dividend payout ratio (DPR) is currently 31.22%.

Employers Company 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.