Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in Employers Holdings, Inc. (NYSE:EIG)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Employers Holdings, Inc. (NYSE:EIG) by 71.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,588 shares of the financial services provider’s stock after selling 21,187 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Employers were worth $412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Inspire Investing LLC boosted its stake in shares of Employers by 4.3% in the second quarter. Inspire Investing LLC now owns 8,225 shares of the financial services provider’s stock worth $351,000 after buying an additional 336 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Employers by 45.5% during the third quarter. GAMMA Investing LLC now owns 1,145 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 358 shares during the last quarter. Isthmus Partners LLC lifted its holdings in Employers by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 375 shares in the last quarter. Ellsworth Advisors LLC lifted its stake in shares of Employers by 6.0% in the third quarter. Ellsworth Advisors LLC now owns 12,312 shares of the financial services provider’s stock worth $591,000 after buying an additional 692 shares in the last quarter. Finally, Meritage Portfolio Management boosted its holdings in shares of Employers by 9.3% during the 3rd quarter. Meritage Portfolio Management now owns 8,297 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 704 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EIG has been the subject of several analyst reports. Truist Financial increased their price target on shares of Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com cut Employers from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

Employers Stock Performance

Employers stock opened at $53.52 on Friday. The company’s 50 day simple moving average is $49.97 and its 200-day simple moving average is $46.41. Employers Holdings, Inc. has a 1 year low of $37.82 and a 1 year high of $54.44. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 10.02 and a beta of 0.24.

Employers (NYSE:EIG) last announced 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 return on equity of 9.78% and a net margin of 15.27%. The company had revenue of $224.00 million for the quarter, compared to analyst estimates of $225.19 million. Equities analysts expect that Employers Holdings, Inc. will post 3.65 earnings per share for the current year.

Employers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 2.24%. Employers’s dividend payout ratio 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.