Short Interest in Employers Holdings, Inc. (NYSE:EIG) Grows By 25.2%

Employers Holdings, Inc. (NYSE:EIGGet Free Report) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 391,400 shares, an increase of 25.2% from the May 15th total of 312,600 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 126,400 shares, the days-to-cover ratio is currently 3.1 days.

Insider Activity

In other news, insider Ann Marie Smith sold 1,764 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $41.26, for a total transaction of $72,782.64. Following the sale, the insider now owns 6,741 shares in the company, valued at approximately $278,133.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Employers

Large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in Employers in the 1st quarter worth $36,000. Bessemer Group Inc. grew its holdings in Employers by 983.8% in the 1st quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 1,033 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Employers by 13.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,516 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 302 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Employers during the 1st quarter valued at about $201,000. Finally, SG Americas Securities LLC boosted its stake in shares of Employers by 14.8% during the 4th quarter. SG Americas Securities LLC now owns 5,702 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 737 shares in the last quarter. Institutional investors own 80.49% of the company’s stock.

Employers Stock Performance

NYSE:EIG traded up $0.40 during trading hours on Monday, reaching $41.50. The company’s stock had a trading volume of 133,684 shares, compared to its average volume of 134,069. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 8.79 and a beta of 0.24. The firm has a 50-day simple moving average of $42.42 and a 200-day simple moving average of $42.16. Employers has a 1 year low of $35.43 and a 1 year high of $46.78.

Employers (NYSE:EIGGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The firm had revenue of $223.10 million during the quarter, compared to the consensus estimate of $217.46 million. Employers had a return on equity of 10.49% and a net margin of 14.16%. Employers’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. Equities analysts anticipate that Employers will post 3.65 earnings per share for the current fiscal year.

Employers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Tuesday, May 7th. This is a positive change from Employers’s previous quarterly dividend of $0.28. Employers’s dividend payout ratio (DPR) is 25.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EIG. Janney Montgomery Scott cut shares of Employers from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 27th. Truist Financial lifted their target price on shares of Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th.

Check Out Our Latest Analysis on Employers

Employers Company Profile

(Get Free Report)

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.

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