Hancock Whitney Corp cut its stake in Employers Holdings, Inc. (NYSE:EIG) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,862 shares of the financial services provider’s stock after selling 667 shares during the quarter. Hancock Whitney Corp’s holdings in Employers were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in EIG. Legal & General Group Plc lifted its position in shares of Employers by 3.5% during the fourth quarter. Legal & General Group Plc now owns 78,423 shares of the financial services provider’s stock valued at $3,281,000 after buying an additional 2,623 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC raised its position in shares of Employers by 9.5% in the 4th quarter. Philadelphia Financial Management of San Francisco LLC now owns 216,873 shares of the financial services provider’s stock valued at $9,102,000 after purchasing an additional 18,904 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of Employers in the 4th quarter valued at approximately $485,000. Metropolitan Life Insurance Co. NY raised its position in shares of Employers by 369.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,591 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 8,335 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Employers by 200.4% in the 4th quarter. Squarepoint Ops LLC now owns 26,122 shares of the financial services provider’s stock valued at $1,096,000 after purchasing an additional 17,425 shares during the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Employers from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Monday, January 14th.
Shares of NYSE EIG traded up $0.45 during midday trading on Wednesday, reaching $41.28. 76,891 shares of the stock were exchanged, compared to its average volume of 162,998. Employers Holdings, Inc. has a twelve month low of $39.10 and a twelve month high of $47.97. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 10.04 and a beta of 0.77.
Employers (NYSE:EIG) last released its quarterly earnings results on Wednesday, February 20th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.62. Employers had a net margin of 17.09% and a return on equity of 14.04%. The firm had revenue of $205.80 million for the quarter, compared to analysts’ expectations of $198.98 million. During the same quarter last year, the company earned $1.06 EPS. On average, equities analysts forecast that Employers Holdings, Inc. will post 2.13 EPS for the current year.
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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 comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.
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