Legal & General Group Plc Takes Position in Employers Holdings Inc $EIG

Legal & General Group Plc acquired a new position in shares of Employers Holdings Inc (NYSE:EIG) in the second quarter, HoldingsChannel.com reports. The firm acquired 48,528 shares of the financial services provider’s stock, valued at approximately $2,450,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Employers during the second quarter worth about $130,258,000. Goldman Sachs Group Inc. lifted its position in Employers by 126.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 329,479 shares of the financial services provider’s stock valued at $14,224,000 after purchasing an additional 183,828 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Employers by 69.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 388,769 shares of the financial services provider’s stock valued at $16,783,000 after purchasing an additional 159,956 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Employers by 93.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 264,078 shares of the financial services provider’s stock valued at $12,459,000 after purchasing an additional 127,330 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Employers during the 2nd quarter valued at about $6,135,000. 80.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EIG has been the topic of several analyst reports. Wall Street Zen upgraded shares of Employers from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings raised Employers from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 26th. Finally, Truist Financial lifted their target price on Employers from $49.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.00.

Employers Stock Down 0.6%

EIG stock opened at $49.58 on Friday. Employers Holdings Inc has a 52 week low of $35.73 and a 52 week high of $52.59. The company has a market capitalization of $890.51 million, a price-to-earnings ratio of 71.86 and a beta of 0.47. The firm’s 50-day moving average is $49.82 and its two-hundred day moving average is $45.12. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.15.

Employers (NYSE:EIG) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.13. Employers had a net margin of 0.91% and a return on equity of 1.30%. The business had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $203.51 million. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue was down 10.6% on a year-over-year basis. On average, analysts forecast that Employers Holdings Inc will post 2.23 earnings per share for the current fiscal year.

Employers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 12th. Employers’s dividend payout ratio (DPR) is presently 197.10%.

Employers Profile

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.