Employers Holdings Inc $EIG Stock: Azarias Capital Management L.P. Trims Position

Azarias Capital Management L.P. lowered its stake in shares of Employers Holdings Inc (NYSE:EIG) by 64.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,336 shares of the financial services provider’s stock after selling 84,823 shares during the period. Employers accounts for approximately 2.1% of Azarias Capital Management L.P.’s portfolio, making the stock its 18th biggest holding. Azarias Capital Management L.P.’s holdings in Employers were worth $2,260,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in EIG. Nykredit A S purchased a new stake in Employers during the 2nd quarter worth about $30,000. Bessemer Group Inc. lifted its holdings in Employers by 227.1% in the 1st quarter. Bessemer Group Inc. now owns 651 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 452 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Employers in the 2nd quarter valued at about $35,000. Global Retirement Partners LLC purchased a new position in Employers in the 2nd quarter valued at about $41,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Employers by 22.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,672 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 311 shares during the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EIG. Weiss Ratings reiterated a “hold (c)” rating on shares of Employers in a report on Tuesday, September 22nd. Truist Financial upped their price objective on shares of Employers from $49.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Employers currently has an average rating of “Hold” and an average price target of $59.00.

Employers Trading Up 0.4%

NYSE:EIG traded up $0.18 during trading hours on Wednesday, reaching $49.94. 108,815 shares of the company were exchanged, compared to its average volume of 233,734. The firm has a market cap of $896.87 million, a price-to-earnings ratio of 72.37 and a beta of 0.46. The stock has a 50 day simple moving average of $48.98 and a 200 day simple moving average of $46.76. Employers Holdings Inc has a 52-week low of $35.73 and a 52-week high of $52.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.39 and a quick ratio of 0.39.

Employers (NYSE:EIG) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.13. The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $203.51 million. Employers had a return on equity of 1.30% and a net margin of 0.91%. The business’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. As a group, analysts predict that Employers Holdings Inc will post 2.23 EPS for the current year.

Employers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 12th. Employers’s payout ratio is 197.10%.

About Employers

Employers Holdings, Inc (NYSE:EIG) is an insurance holding company that specializes in workers’ compensation coverage for small and midsize businesses. Through its insurance subsidiaries, the company provides policies that help employers cover medical expenses, wage replacement, and other costs associated with workplace injuries.

The company focuses primarily on small businesses in lower- to moderate-hazard industries, including retail, professional services, hospitality, construction, and other commercial sectors.