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

Employers Holdings, Inc. (NYSE:EIGGet Free Report) saw a significant increase in short interest during the month of 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. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 126,400 shares, the days-to-cover ratio is currently 3.1 days.

Employers Stock Up 1.0 %

EIG traded up $0.40 during trading on Monday, reaching $41.50. 133,684 shares of the stock traded hands, compared to its average volume of 134,069. The stock has a market capitalization of $1.05 billion, a PE ratio of 8.79 and a beta of 0.24. The stock’s 50-day moving average is $42.42 and its 200 day moving average is $42.16. Employers has a 12 month low of $35.43 and a 12 month high of $46.78.

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

Employers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.20 annualized dividend and a dividend yield of 2.89%. This is a positive change from Employers’s previous quarterly dividend of $0.28. Employers’s dividend payout ratio is currently 25.42%.

Wall Street Analyst Weigh In

EIG has been the topic of several analyst reports. Janney Montgomery Scott cut shares of Employers from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. Truist Financial upped their price target on shares of Employers from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th.

Read Our Latest Stock Report on Employers

Insider Buying and Selling

In related news, insider Ann Marie Smith sold 1,764 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $41.26, for a total value of $72,782.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at $278,133.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Employers

Several institutional investors have recently made changes to their positions in EIG. Lazard Asset Management LLC acquired a new position in shares of Employers during the first quarter valued at about $36,000. Bessemer Group Inc. raised its holdings in shares of Employers by 983.8% during the first quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,033 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Employers by 13.6% during the third quarter. PNC Financial Services Group Inc. now owns 2,516 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 302 shares during the period. Mutual of America Capital Management LLC acquired a new position in shares of Employers during the first quarter valued at about $201,000. Finally, SG Americas Securities LLC raised its holdings in shares of Employers by 14.8% during the fourth 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 during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.

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.

Featured Stories

Receive News & Ratings for Employers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Employers and related companies with MarketBeat.com's FREE daily email newsletter.