Victory Capital Management Inc. cut its holdings in shares of Employers Holdings, Inc. (NYSE:EIG) by 63.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,298 shares of the financial services provider’s stock after selling 5,736 shares during the quarter. Victory Capital Management Inc.’s holdings in Employers were worth $139,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. 6 Meridian bought a new position in shares of Employers during the 2nd quarter worth $204,000. Capital Fund Management S.A. bought a new position in shares of Employers during the 2nd quarter worth $262,000. Zebra Capital Management LLC bought a new position in shares of Employers during the 2nd quarter worth $298,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Employers during the 1st quarter worth $323,000. Finally, Holocene Advisors LP grew its stake in shares of Employers by 10.2% during the 2nd quarter. Holocene Advisors LP now owns 8,076 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 748 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE EIG opened at $42.40 on Wednesday. Employers Holdings, Inc. has a 52 week low of $39.31 and a 52 week high of $47.97. The business has a 50-day simple moving average of $43.33 and a two-hundred day simple moving average of $42.53. The company has a market cap of $1.39 billion, a P/E ratio of 10.32 and a beta of 0.72.
Employers (NYSE:EIG) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.49 by $0.41. Employers had a return on equity of 12.98% and a net margin of 19.82%. The business had revenue of $204.30 million during the quarter, compared to the consensus estimate of $206.19 million. During the same quarter last year, the company earned $0.94 EPS. On average, equities research analysts predict that Employers Holdings, Inc. will post 2.73 EPS for the current fiscal year.
Several research firms have recently weighed in on EIG. Zacks Investment Research downgraded Employers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Boenning Scattergood reiterated a “buy” rating and set a $50.00 price target on shares of Employers in a research note on Thursday, July 25th.
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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