Employers Holdings, Inc. (NYSE:EIG) Short Interest Down 15.8% in April

Employers Holdings, Inc. (NYSE:EIG) saw a large drop in short interest in April. As of April 15th, there was short interest totalling 607,900 shares, a drop of 15.8% from the March 31st total of 721,900 shares. Based on an average trading volume of 204,600 shares, the days-to-cover ratio is currently 3.0 days. Approximately 2.2% of the shares of the company are short sold.

A number of brokerages have weighed in on EIG. Boenning Scattergood raised shares of Employers from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a report on Thursday, April 29th. Zacks Investment Research upgraded shares of Employers from a “sell” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, April 27th. Finally, TheStreet raised shares of Employers from a “c” rating to a “b-” rating in a report on Wednesday, February 17th.

In related news, EVP Tracey Lynn Berg sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $37.51, for a total transaction of $318,835.00. Following the sale, the executive vice president now directly owns 24,467 shares of the company’s stock, valued at approximately $917,757.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Vantage Consulting Group Inc bought a new stake in shares of Employers during the fourth quarter valued at approximately $39,000. Veriti Management LLC bought a new position in Employers in the 4th quarter worth approximately $52,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Employers by 33.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,381 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 1,090 shares during the period. ProShare Advisors LLC bought a new stake in Employers during the 4th quarter valued at $223,000. Finally, Scotia Capital Inc. boosted its position in Employers by 5.2% during the 4th quarter. Scotia Capital Inc. now owns 7,269 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 360 shares during the period. Institutional investors own 79.13% of the company’s stock.

EIG traded down $0.26 during trading on Tuesday, reaching $41.24. 7,247 shares of the company were exchanged, compared to its average volume of 194,911. Employers has a 52 week low of $25.53 and a 52 week high of $43.66. The firm has a 50 day moving average of $40.78 and a 200 day moving average of $34.76. The stock has a market cap of $1.18 billion, a P/E ratio of 14.39 and a beta of -0.03.

Employers (NYSE:EIG) last announced its quarterly earnings results on Thursday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.07. Employers had a net margin of 11.32% and a return on equity of 5.85%. The company had revenue of $163.60 million during the quarter, compared to the consensus estimate of $166.02 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, analysts forecast that Employers will post 2.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 19th. Shareholders of record on Wednesday, May 5th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, May 4th. Employers’s dividend payout ratio (DPR) is 31.25%.

Employers Company Profile

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; and national, regional, and local trade groups and associations, as well as directly to customers.

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