Loomis Sayles & Co. L P Reduces Stock Holdings in Employers Holdings, Inc. (NYSE:EIG)

Loomis Sayles & Co. L P cut its stake in shares of Employers Holdings, Inc. (NYSE:EIG) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 248,869 shares of the financial services provider’s stock after selling 19,342 shares during the period. Loomis Sayles & Co. L P’s holdings in Employers were worth $11,938,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in shares of Employers during the first quarter worth $36,000. Bessemer Group Inc. grew its holdings in Employers by 983.8% during the 1st quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,033 shares in the last quarter. GAMMA Investing LLC increased its stake in Employers by 45.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock worth $55,000 after buying an additional 358 shares during the period. Innealta Capital LLC acquired a new position in Employers in the 2nd quarter worth $81,000. Finally, Mackenzie Financial Corp purchased a new position in Employers in the 2nd quarter valued at about $257,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.

Wall Street Analysts Forecast Growth

EIG has been the topic of a number of analyst reports. StockNews.com lowered Employers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Truist Financial lifted their price objective on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, JMP Securities upgraded Employers to a “hold” rating in a research note on Thursday, August 1st.

Employers Price Performance

Shares of EIG stock opened at $53.24 on Wednesday. The firm has a market cap of $1.32 billion, a P/E ratio of 9.97 and a beta of 0.24. The firm has a fifty day moving average of $49.51 and a two-hundred day moving average of $46.17. Employers Holdings, Inc. has a 1-year low of $37.54 and a 1-year high of $54.44.

Employers (NYSE:EIG) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Employers had a return on equity of 9.78% and a net margin of 15.27%. The business had revenue of $224.00 million during the quarter, compared to the consensus estimate of $225.19 million. On average, sell-side analysts expect that Employers Holdings, Inc. will post 3.65 EPS for the current year.

Employers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Wednesday, November 13th. Employers’s dividend payout ratio is currently 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.