State of Alaska Department of Revenue Sells 706 Shares of Employers Holdings, Inc. (NYSE:EIG)

State of Alaska Department of Revenue reduced its stake in shares of Employers Holdings, Inc. (NYSE:EIG) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,174 shares of the financial services provider’s stock after selling 706 shares during the period. State of Alaska Department of Revenue owned 0.06% of Employers worth $679,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in Employers during the first quarter valued at about $36,000. Bessemer Group Inc. increased its stake in shares of Employers by 983.8% in the first quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,033 shares during the period. GAMMA Investing LLC increased its stake in shares of Employers by 45.5% in the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 358 shares during the period. Innealta Capital LLC bought a new position in shares of Employers in the second quarter worth about $81,000. Finally, Mutual of America Capital Management LLC bought a new position in shares of Employers in the first quarter worth about $201,000. 80.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EIG shares. Truist Financial lifted their price objective on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JMP Securities upgraded Employers to a “hold” rating in a research note on Thursday, August 1st. Finally, StockNews.com upgraded Employers from a “hold” rating to a “buy” rating in a research note on Monday.

Employers Trading Up 9.3 %

NYSE:EIG opened at $53.60 on Thursday. Employers Holdings, Inc. has a 1 year low of $37.33 and a 1 year high of $54.26. The firm has a 50 day moving average of $48.12 and a 200-day moving average of $45.27. The stock has a market capitalization of $1.33 billion, a P/E ratio of 10.04 and a beta of 0.24.

Employers (NYSE:EIG) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Employers had a net margin of 15.27% and a return on equity of 9.78%. The company had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $225.19 million. As a group, analysts forecast that Employers Holdings, Inc. will post 3.63 EPS for the current fiscal year.

Employers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, November 13th. Employers’s dividend payout ratio (DPR) is presently 22.47%.

About Employers

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers’ compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.