Principal Financial Group Inc. Sells 7,921 Shares of Employers Holdings, Inc. (NYSE:EIG)

Principal Financial Group Inc. reduced its stake in shares of Employers Holdings, Inc. (NYSE:EIG) by 6.3% in the 3rd quarter, Holdings Channel reports. The firm owned 117,081 shares of the financial services provider’s stock after selling 7,921 shares during the quarter. Principal Financial Group Inc.’s holdings in Employers were worth $5,616,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Employers by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,103,051 shares of the financial services provider’s stock worth $89,653,000 after acquiring an additional 13,889 shares during the last quarter. LSV Asset Management raised its holdings in Employers by 33.5% during the 2nd quarter. LSV Asset Management now owns 1,066,245 shares of the financial services provider’s stock worth $45,454,000 after purchasing an additional 267,419 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Employers by 24.2% in the 2nd quarter. American Century Companies Inc. now owns 458,722 shares of the financial services provider’s stock worth $19,555,000 after purchasing an additional 89,429 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Employers by 1.6% during the third quarter. Assenagon Asset Management S.A. now owns 200,660 shares of the financial services provider’s stock worth $9,626,000 after buying an additional 3,257 shares during the period. Finally, Isthmus Partners LLC raised its stake in Employers by 0.5% during the second quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock worth $35,000 after buying an additional 375 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EIG has been the subject of a number of recent analyst reports. JMP Securities upgraded Employers to a “hold” rating in a report on Thursday, August 1st. Truist Financial raised their target price on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, StockNews.com cut Employers from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

Employers Trading Down 0.1 %

Shares of NYSE EIG opened at $52.45 on Thursday. The firm has a market capitalization of $1.30 billion, a P/E ratio of 9.79 and a beta of 0.24. The firm’s 50-day moving average price is $49.05 and its 200-day moving average price is $45.89. Employers Holdings, Inc. has a 1-year low of $37.54 and a 1-year high of $54.44.

Employers (NYSE:EIG) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Employers had a return on equity of 9.78% and a net margin of 15.27%. The business had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. Equities research analysts forecast that Employers Holdings, Inc. will post 3.63 EPS for the current year.

Employers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.29%. The ex-dividend date is Wednesday, November 13th. Employers’s payout ratio is currently 22.47%.

Employers Company Profile

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.