Short Interest in Employers Holdings Inc (NYSE:EIG) Drops By 35.3%

Employers Holdings Inc (NYSE:EIG) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 887,024 shares, a decrease of 35.3% from the June 15th total of 1,370,594 shares. Based on an average daily volume of 433,883 shares, the days-to-cover ratio is presently 2.0 days. Approximately 4.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Employers

Several hedge funds and other institutional investors have recently made changes to their positions in EIG. GAMMA Investing LLC grew its stake in shares of Employers by 73.1% during the second quarter. GAMMA Investing LLC now owns 4,628 shares of the financial services provider’s stock worth $234,000 after buying an additional 1,955 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Employers by 109.4% in the 1st quarter. Bank of America Corp DE now owns 57,725 shares of the financial services provider’s stock valued at $2,375,000 after acquiring an additional 30,154 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Employers by 8.5% during the 1st quarter. Empowered Funds LLC now owns 101,322 shares of the financial services provider’s stock valued at $4,168,000 after acquiring an additional 7,928 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Employers by 35.3% during the 1st quarter. Quantinno Capital Management LP now owns 17,670 shares of the financial services provider’s stock valued at $727,000 after acquiring an additional 4,607 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Employers by 15.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 26,313 shares of the financial services provider’s stock worth $1,083,000 after acquiring an additional 3,453 shares during the last quarter. 80.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EIG. Zacks Research downgraded shares of Employers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Employers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Finally, Wall Street Zen raised shares of Employers from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Employers currently has an average rating of “Hold”.

Employers Price Performance

Employers stock opened at $50.30 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.40 and a current ratio of 0.40. Employers has a 52 week low of $35.73 and a 52 week high of $52.06. The stock has a market capitalization of $917.66 million, a P/E ratio of 152.43 and a beta of 0.46. The stock has a fifty day moving average of $46.63 and a 200-day moving average of $43.83.

Employers (NYSE:EIG) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Employers had a net margin of 0.95% and a return on equity of 1.10%. The business had revenue of $207.60 million during the quarter, compared to analyst estimates of $213.04 million. During the same period last year, the business earned $0.87 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Employers will post 2.15 earnings per share for the current fiscal year.

Employers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Employers’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, May 13th. Employers’s dividend payout ratio (DPR) is currently 412.12%.

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.