Short Interest in Employers Holdings, Inc. (NYSE:EIG) Declines By 5.5%

Employers Holdings, Inc. (NYSE:EIG) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 886,100 shares, a decrease of 5.5% from the August 30th total of 938,100 shares. Based on an average daily volume of 122,500 shares, the short-interest ratio is presently 7.2 days. Currently, 2.9% of the company’s stock are short sold.

Shares of EIG stock opened at $41.63 on Wednesday. Employers has a fifty-two week low of $39.31 and a fifty-two week high of $47.97. The stock’s 50-day moving average is $43.22 and its two-hundred day moving average is $42.61. The firm has a market cap of $1.34 billion, a P/E ratio of 10.15 and a beta of 0.72.

Employers (NYSE:EIG) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.41. Employers had a return on equity of 12.98% and a net margin of 19.82%. The company had revenue of $204.30 million for the quarter, compared to analyst estimates of $206.19 million. During the same period in the prior year, the firm posted $0.94 EPS. As a group, sell-side analysts forecast that Employers will post 2.73 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Employers by 11.8% during the 2nd quarter. Royal Bank of Canada now owns 6,467 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 682 shares during the last quarter. Holocene Advisors LP increased its holdings in shares of Employers by 10.2% during the 2nd quarter. Holocene Advisors LP now owns 8,076 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 748 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Employers by 0.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 88,130 shares of the financial services provider’s stock valued at $3,725,000 after acquiring an additional 826 shares during the last quarter. Swiss National Bank increased its holdings in shares of Employers by 2.0% during the 2nd quarter. Swiss National Bank now owns 61,000 shares of the financial services provider’s stock valued at $2,578,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Anderson Fisher LLC acquired a new position in shares of Employers during the 2nd quarter valued at about $80,000. 80.25% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on the company. Zacks Investment Research lowered Employers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Boenning Scattergood reaffirmed a “buy” rating and issued a $50.00 target price on shares of Employers in a research report on Thursday, July 25th.

About Employers

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.

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