QRG Capital Management Inc. Trims Stake in Employers Holdings Inc $EIG

QRG Capital Management Inc. lessened its holdings in shares of Employers Holdings Inc (NYSE:EIG) by 32.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,719 shares of the financial services provider’s stock after selling 13,573 shares during the period. QRG Capital Management Inc. owned about 0.12% of Employers worth $1,178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Qube Research & Technologies Ltd boosted its holdings in Employers by 93.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 264,078 shares of the financial services provider’s stock valued at $12,459,000 after acquiring an additional 127,330 shares during the period. Norges Bank purchased a new stake in shares of Employers during the second quarter valued at $3,859,000. Boston Partners grew its holdings in shares of Employers by 21.8% in the second quarter. Boston Partners now owns 355,041 shares of the financial services provider’s stock worth $16,252,000 after purchasing an additional 63,582 shares during the last quarter. Jane Street Group LLC increased its stake in Employers by 151.7% in the 2nd quarter. Jane Street Group LLC now owns 101,815 shares of the financial services provider’s stock worth $4,804,000 after buying an additional 61,367 shares during the period. Finally, Carolina Wealth Advisors LLC lifted its holdings in Employers by 80.5% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 132,289 shares of the financial services provider’s stock valued at $5,620,000 after buying an additional 58,980 shares in the last quarter. 80.49% of the stock is owned by institutional investors.

Employers Stock Performance

Shares of EIG opened at $44.64 on Wednesday. The company has a 50 day moving average price of $41.80 and a 200-day moving average price of $42.23. Employers Holdings Inc has a fifty-two week low of $35.73 and a fifty-two week high of $52.28. The stock has a market capitalization of $1.00 billion, a PE ratio of 17.65 and a beta of 0.58.

Employers (NYSE:EIG) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($1.71). The business had revenue of $239.30 million for the quarter, compared to analysts’ expectations of $216.60 million. Employers had a net margin of 6.91% and a return on equity of 3.38%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. Equities research analysts forecast that Employers Holdings Inc will post 3.63 EPS for the current year.

Employers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Wednesday, November 12th. Employers’s dividend payout ratio is 50.59%.

Insiders Place Their Bets

In related news, EVP Michael Pedraja bought 5,500 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average price of $37.09 per share, for a total transaction of $203,995.00. Following the completion of the purchase, the executive vice president directly owned 17,830 shares of the company’s stock, valued at approximately $661,314.70. This trade represents a 44.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on EIG. Zacks Research upgraded shares of Employers from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Employers in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Employers Company Profile

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.