Assenagon Asset Management S.A. Trims Stock Holdings in Employers Holdings, Inc. (NYSE:EIG)

Assenagon Asset Management S.A. lowered its position in shares of Employers Holdings, Inc. (NYSE:EIG) by 95.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,392 shares of the financial services provider’s stock after selling 191,268 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Employers were worth $481,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Employers in the 2nd quarter worth about $1,522,000. Barclays PLC grew its holdings in shares of Employers by 300.2% during the third quarter. Barclays PLC now owns 41,501 shares of the financial services provider’s stock valued at $1,991,000 after buying an additional 31,131 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Employers by 18.5% during the third quarter. JPMorgan Chase & Co. now owns 79,512 shares of the financial services provider’s stock valued at $3,814,000 after acquiring an additional 12,422 shares in the last quarter. Jane Street Group LLC raised its holdings in Employers by 22.9% in the 3rd quarter. Jane Street Group LLC now owns 48,982 shares of the financial services provider’s stock worth $2,350,000 after acquiring an additional 9,138 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Employers in the 3rd quarter valued at approximately $436,000. Institutional investors own 80.49% of the company’s stock.

Employers Trading Up 0.8 %

Shares of EIG opened at $49.09 on Friday. The firm has a market capitalization of $1.21 billion, a P/E ratio of 9.19 and a beta of 0.27. Employers Holdings, Inc. has a 12-month low of $38.67 and a 12-month high of $54.44. The firm has a fifty day moving average price of $51.21 and a 200-day moving average price of $48.92.

Employers (NYSE:EIG) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. Employers had a return on equity of 9.78% and a net margin of 15.27%. The firm had revenue of $224.00 million for the quarter, compared to the consensus estimate of $225.19 million. Analysts predict that Employers Holdings, Inc. will post 3.65 earnings per share for the current year.

Employers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.44%. The ex-dividend date was Wednesday, November 13th. Employers’s payout ratio is 22.47%.

Analysts Set New Price Targets

Several equities analysts have issued reports on EIG shares. StockNews.com cut shares of Employers from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Truist Financial raised their target price on shares of Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st.

Employers Company Profile

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.