Employers Holdings, Inc. (NYSE:EIG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Employers Holdings, Inc. (NYSE:EIG) by 6.3% in the third quarter, HoldingsChannel reports. The fund owned 117,081 shares of the financial services provider’s stock after selling 7,921 shares during the period. Principal Financial Group Inc.’s holdings in Employers were worth $5,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in EIG. LSV Asset Management grew its stake in Employers by 33.5% in the 2nd quarter. LSV Asset Management now owns 1,066,245 shares of the financial services provider’s stock valued at $45,454,000 after acquiring an additional 267,419 shares during the period. American Century Companies Inc. grew its stake in shares of Employers by 24.2% in the 2nd quarter. American Century Companies Inc. now owns 458,722 shares of the financial services provider’s stock valued at $19,555,000 after buying an additional 89,429 shares during the period. Bank of Montreal Can acquired a new stake in Employers during the second quarter worth $1,522,000. Barclays PLC lifted its holdings in shares of Employers by 300.2% in the 3rd quarter. Barclays PLC now owns 41,501 shares of the financial services provider’s stock worth $1,991,000 after acquiring an additional 31,131 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Employers by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,103,051 shares of the financial services provider’s stock valued at $89,653,000 after acquiring an additional 13,889 shares during the period. 80.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on EIG shares. StockNews.com cut shares of Employers from a “buy” rating to a “hold” rating in a report 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 research report on Friday, November 1st.

Employers Stock Up 0.7 %

Shares of NYSE:EIG opened at $51.23 on Thursday. The firm’s 50-day simple moving average is $51.67 and its 200-day simple moving average is $48.10. Employers Holdings, Inc. has a fifty-two week low of $38.38 and a fifty-two week high of $54.44. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 9.59 and a beta of 0.26.

Employers (NYSE:EIG) last announced its quarterly 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 net margin of 15.27% and a return on equity of 9.78%. The business had revenue of $224.00 million during the quarter, compared to the consensus estimate of $225.19 million. On average, research analysts forecast 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 was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Wednesday, November 13th. Employers’s dividend payout ratio (DPR) is presently 22.47%.

Employers 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.