State of New Jersey Common Pension Fund D Sells 3,347 Shares of Employers Holdings, Inc. (NYSE:EIG)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Employers Holdings, Inc. (NYSE:EIG) by 7.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 42,293 shares of the financial services provider’s stock after selling 3,347 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Employers were worth $2,029,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meritage Portfolio Management boosted its holdings in Employers by 9.3% during the third quarter. Meritage Portfolio Management now owns 8,297 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 704 shares during the last quarter. QRG Capital Management Inc. lifted its position in Employers by 15.8% during the 3rd quarter. QRG Capital Management Inc. now owns 32,315 shares of the financial services provider’s stock worth $1,550,000 after buying an additional 4,415 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Employers by 1.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 200,660 shares of the financial services provider’s stock worth $9,626,000 after buying an additional 3,257 shares during the last quarter. Capital Investment Advisors LLC bought a new position in shares of Employers in the 3rd quarter valued at about $387,000. Finally, Ellsworth Advisors LLC increased its position in shares of Employers by 6.0% in the third quarter. Ellsworth Advisors LLC now owns 12,312 shares of the financial services provider’s stock valued at $591,000 after acquiring an additional 692 shares during the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on EIG. Truist Financial increased their price target on Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JMP Securities upgraded shares of Employers to a “hold” rating in a report on Thursday, August 1st. Finally, StockNews.com cut shares of Employers from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

Employers Stock Down 0.5 %

Shares of NYSE EIG opened at $52.88 on Friday. Employers Holdings, Inc. has a twelve month low of $37.40 and a twelve month high of $54.44. The company has a market cap of $1.31 billion, a PE ratio of 9.90 and a beta of 0.24. The business’s 50 day moving average price is $48.84 and its two-hundred day moving average price is $45.73.

Employers (NYSE:EIG) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $225.19 million. As a group, research analysts anticipate that Employers Holdings, Inc. will post 3.63 EPS for the current fiscal year.

Employers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Wednesday, November 13th. Employers’s dividend payout ratio is presently 22.47%.

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.