Short Interest in Employers Holdings, Inc. (NYSE:EIG) Grows By 30.1%

Employers Holdings, Inc. (NYSE:EIG) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 352,700 shares, an increase of 30.1% from the November 15th total of 271,000 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 115,500 shares, the days-to-cover ratio is currently 3.1 days.

Analysts Set New Price Targets

EIG has been the topic of several analyst reports. Truist Financial boosted their price objective on shares of Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com cut shares of Employers from a “buy” rating to a “hold” rating in a research report on Wednesday.

Institutional Investors Weigh In On Employers

Institutional investors and hedge funds have recently made changes to their positions in the business. LSV Asset Management grew its position in Employers by 33.5% in the 2nd quarter. LSV Asset Management now owns 1,066,245 shares of the financial services provider’s stock worth $45,454,000 after purchasing an additional 267,419 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Employers by 30.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,371 shares of the financial services provider’s stock valued at $354,000 after acquiring an additional 1,707 shares during the period. SG Americas Securities LLC bought a new position in shares of Employers during the 3rd quarter valued at approximately $436,000. Price T Rowe Associates Inc. MD grew its position in shares of Employers by 12.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,334 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 834 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Employers during the 2nd quarter valued at approximately $1,522,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

Employers Stock Performance

Shares of NYSE EIG traded up $0.34 during trading on Friday, hitting $52.72. 202,977 shares of the company traded hands, compared to its average volume of 128,263. The business’s fifty day moving average is $51.01 and its 200 day moving average is $47.26. Employers has a fifty-two week low of $38.21 and a fifty-two week high of $54.44. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.87 and a beta of 0.26.

Employers (NYSE:EIG) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.03. Employers had a net margin of 15.27% and a return on equity of 9.78%. The firm had revenue of $224.00 million for the quarter, compared to analyst estimates of $225.19 million. On average, analysts predict that Employers will post 3.65 EPS for the current year.

Employers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.30 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.28%. Employers’s dividend payout ratio is presently 22.47%.

About Employers

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.