Employers Holdings Inc (NYSE:EIG) Sees Significant Increase in Short Interest

Employers Holdings Inc (NYSE:EIG) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 843,290 shares, an increase of 40.7% from the December 31st total of 599,286 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average daily volume of 334,009 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily volume of 334,009 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EIG shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Employers in a research report on Monday, December 29th. Zacks Research raised Employers from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Insider Activity

In other news, EVP Michael Pedraja purchased 5,500 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average cost of $37.09 per share, with a total value of $203,995.00. Following the completion of the acquisition, the executive vice president owned 17,830 shares of the company’s stock, valued at approximately $661,314.70. This represents a 44.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Employers

Institutional investors have recently made changes to their positions in the company. Qube Research & Technologies Ltd raised its stake in Employers by 93.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 264,078 shares of the financial services provider’s stock valued at $12,459,000 after purchasing an additional 127,330 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Employers by 326.5% in the third quarter. Bridgeway Capital Management LLC now owns 141,611 shares of the financial services provider’s stock valued at $6,016,000 after buying an additional 108,411 shares during the last quarter. UBS Group AG raised its position in shares of Employers by 125.0% in the third quarter. UBS Group AG now owns 181,341 shares of the financial services provider’s stock valued at $7,703,000 after buying an additional 100,751 shares during the last quarter. Norges Bank purchased a new position in shares of Employers in the second quarter worth about $3,859,000. Finally, Two Sigma Investments LP boosted its position in Employers by 62.4% during the third quarter. Two Sigma Investments LP now owns 181,591 shares of the financial services provider’s stock worth $7,714,000 after acquiring an additional 69,741 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

Employers Stock Down 2.3%

EIG opened at $43.66 on Friday. The firm’s fifty day simple moving average is $42.59 and its two-hundred day simple moving average is $42.12. Employers has a 52-week low of $35.73 and a 52-week high of $52.28. The company has a market cap of $981.45 million, a price-to-earnings ratio of 17.26 and a beta of 0.58.

Employers (NYSE:EIG) last released its earnings results on Thursday, October 30th. The financial services provider reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.71). The company had revenue of $239.30 million for the quarter, compared to analysts’ expectations of $216.60 million. Employers had a return on equity of 3.38% and a net margin of 6.91%.The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. On average, research analysts forecast that Employers will post 3.63 EPS for the current year.

About Employers

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.