California Public Employees Retirement System grew its stake in shares of Employers Holdings, Inc. (NYSE:EIG) by 8.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 75,097 shares of the financial services provider’s stock after buying an additional 5,897 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Employers worth $3,413,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Riverhead Capital Management LLC raised its position in Employers by 64.5% in the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 1,097 shares in the last quarter. First Allied Advisory Services Inc. acquired a new position in Employers in the second quarter worth about $215,000. Stifel Financial Corp acquired a new position in Employers in the second quarter worth about $214,000. Victory Capital Management Inc. raised its position in Employers by 14.7% in the second quarter. Victory Capital Management Inc. now owns 6,618 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 850 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in Employers in the second quarter worth about $295,000. 77.37% of the stock is owned by institutional investors and hedge funds.
Shares of Employers Holdings, Inc. (EIG) opened at $43.20 on Friday. The firm has a market cap of $1,400.00, a PE ratio of 13.50 and a beta of 1.14. Employers Holdings, Inc. has a 52 week low of $35.60 and a 52 week high of $50.45.
Employers (NYSE:EIG) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.08. The firm had revenue of $210.50 million for the quarter, compared to analysts’ expectations of $193.04 million. Employers had a net margin of 13.32% and a return on equity of 10.39%. equities analysts predict that Employers Holdings, Inc. will post 2.39 EPS for the current fiscal year.
Several research analysts recently issued reports on EIG shares. Zacks Investment Research lowered shares of Employers from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. SunTrust Banks reissued a “buy” rating and issued a $53.00 price target on shares of Employers in a research report on Friday, October 27th. Finally, ValuEngine lowered shares of Employers from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $47.33.
In other Employers news, EVP John P. Nelson sold 3,400 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $44.56, for a total transaction of $151,504.00. Following the sale, the executive vice president now directly owns 20,377 shares of the company’s stock, valued at $907,999.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas D. Dirks sold 58,300 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $49.55, for a total transaction of $2,888,765.00. Following the sale, the chief executive officer now directly owns 331,145 shares in the company, valued at $16,408,234.75. The disclosure for this sale can be found here. Insiders have sold 83,525 shares of company stock worth $4,050,555 over the last ninety days. Insiders own 3.50% of the company’s stock.
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Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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