Prudential Financial Inc. decreased its position in Employers Holdings Inc (NYSE:EIG) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 391,286 shares of the financial services provider’s stock after selling 11,280 shares during the quarter. Prudential Financial Inc. owned about 1.21% of Employers Holdings worth $17,784,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Riverhead Capital Management LLC raised its stake in Employers Holdings by 64.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,097 shares during the last quarter. Ifrah Financial Services Inc. acquired a new position in Employers Holdings in the 2nd quarter valued at about $205,000. First Allied Advisory Services Inc. acquired a new position in Employers Holdings in the 2nd quarter valued at about $215,000. Stifel Financial Corp acquired a new position in Employers Holdings in the 2nd quarter valued at about $214,000. Finally, State of Alaska Department of Revenue raised its stake in Employers Holdings by 79.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,376 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 2,826 shares during the last quarter. 77.36% of the stock is owned by hedge funds and other institutional investors.
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Employers Holdings Inc (EIG) opened at $48.10 on Friday. Employers Holdings Inc has a one year low of $34.25 and a one year high of $49.60. The firm has a market cap of $1,559.93, a PE ratio of 17.36 and a beta of 1.13.
Employers Holdings (NYSE:EIG) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.57 by $0.08. The company had revenue of $210.50 million during the quarter, compared to analysts’ expectations of $193.04 million. Employers Holdings had a return on equity of 10.39% and a net margin of 13.32%. research analysts anticipate that Employers Holdings Inc will post 2.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, November 7th. Employers Holdings’s dividend payout ratio (DPR) is 18.81%.
EIG has been the subject of several analyst reports. Zacks Investment Research raised shares of Employers Holdings from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Friday, September 15th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $53.00 target price on shares of Employers Holdings in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $47.33.
About Employers Holdings
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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