Renaissance Technologies LLC Sells 69,300 Shares of Employers Holdings Inc $EIG

Renaissance Technologies LLC lessened its stake in Employers Holdings Inc (NYSE:EIG) by 41.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,700 shares of the financial services provider’s stock after selling 69,300 shares during the period. Renaissance Technologies LLC’s holdings in Employers were worth $4,019,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EIG. Public Employees Retirement System of Ohio raised its position in shares of Employers by 15.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 26,313 shares of the financial services provider’s stock valued at $1,083,000 after buying an additional 3,453 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Employers by 27.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 300,567 shares of the financial services provider’s stock worth $12,365,000 after acquiring an additional 65,100 shares in the last quarter. Sei Investments Co. raised its position in Employers by 53.9% in the 1st quarter. Sei Investments Co. now owns 16,570 shares of the financial services provider’s stock worth $682,000 after purchasing an additional 5,804 shares during the period. Bessemer Group Inc. lifted its stake in Employers by 227.1% in the first quarter. Bessemer Group Inc. now owns 651 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 452 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Employers by 2.0% in the first quarter. Principal Financial Group Inc. now owns 109,252 shares of the financial services provider’s stock worth $4,495,000 after purchasing an additional 2,123 shares during the last quarter. Institutional investors own 80.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EIG. Wall Street Zen raised Employers from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings upgraded Employers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Zacks Research cut Employers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Truist Financial increased their price objective 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.00.

Employers Stock Down 2.2%

Shares of NYSE EIG opened at $49.46 on Friday. The firm has a fifty day simple moving average of $48.81 and a two-hundred day simple moving average of $44.48. Employers Holdings Inc has a 12 month low of $35.73 and a 12 month high of $52.59. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $888.37 million, a PE ratio of 71.69 and a beta of 0.47.

Employers (NYSE:EIG) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.13. Employers had a net margin of 0.91% and a return on equity of 1.30%. The firm had revenue of $220.20 million for the quarter, compared to analyst estimates of $203.51 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities analysts expect that Employers Holdings Inc will post 2.22 earnings per share for the current year.

Employers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.7%. Employers’s dividend payout ratio is 197.10%.

Employers Company 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.