The Manufacturers Life Insurance Company Lowers Stock Holdings in Employers Holdings, Inc. (NYSE:EIG)

The Manufacturers Life Insurance Company lessened its stake in Employers Holdings, Inc. (NYSE:EIG) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,276 shares of the financial services provider’s stock after selling 733 shares during the period. The Manufacturers Life Insurance Company’s holdings in Employers were worth $589,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of Employers in the 2nd quarter worth approximately $81,000. Isthmus Partners LLC grew its holdings in shares of Employers by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 375 shares during the period. LSV Asset Management grew 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 valued at $45,454,000 after buying an additional 267,419 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Employers by 49.5% in the second quarter. Quest Partners LLC now owns 14,840 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 4,916 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in shares of Employers by 12.3% in the second quarter. Texas Permanent School Fund Corp now owns 25,282 shares of the financial services provider’s stock valued at $1,078,000 after acquiring an additional 2,771 shares in the last quarter. 80.49% of the stock is owned by hedge funds and other institutional investors.

Employers Stock Up 0.6 %

EIG stock opened at $52.72 on Friday. The company has a market capitalization of $1.30 billion, a PE ratio of 9.87 and a beta of 0.26. The stock’s 50 day moving average is $51.01 and its two-hundred day moving average is $47.22. Employers Holdings, Inc. has a 52-week low of $38.21 and a 52-week high of $54.44.

Employers (NYSE:EIG) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Employers had a net margin of 15.27% and a return on equity of 9.78%. The firm had revenue of $224.00 million during the quarter, compared to the consensus estimate of $225.19 million. As a group, sell-side analysts anticipate that Employers Holdings, Inc. will post 3.65 EPS for the current year.

Employers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Wednesday, November 13th. Employers’s dividend payout ratio (DPR) is 22.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EIG shares. Truist Financial lifted their price target on shares of Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com cut shares of Employers from a “buy” rating to a “hold” rating in a research note on Wednesday.

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.