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

Loomis Sayles & Co. L P reduced its stake in Employers Holdings, Inc. (NYSE:EIG) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,869 shares of the financial services provider’s stock after selling 19,342 shares during the quarter. Loomis Sayles & Co. L P owned about 1.01% of Employers worth $11,938,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. 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. Lazard Asset Management LLC acquired a new stake in Employers during the first quarter worth approximately $36,000. Bessemer Group Inc. grew its stake in Employers by 983.8% in the 1st quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 1,033 shares during the period. GAMMA Investing LLC raised its holdings in Employers by 45.5% in the 3rd 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. Finally, Innealta Capital LLC purchased a new position in shares of Employers during the 2nd quarter worth $81,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

Employers Trading Down 0.1 %

EIG stock opened at $53.24 on Wednesday. The stock has a 50-day moving average price of $49.51 and a two-hundred day moving average price of $46.17. The company has a market cap of $1.32 billion, a PE ratio of 9.97 and a beta of 0.24. Employers Holdings, Inc. has a 12-month low of $37.54 and a 12-month high of $54.44.

Employers (NYSE:EIG) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $224.00 million during the quarter, compared to the consensus estimate of $225.19 million. Equities analysts forecast that Employers Holdings, Inc. will post 3.65 EPS for the current fiscal year.

Employers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, November 13th. Employers’s dividend payout ratio is presently 22.47%.

Analyst Upgrades and Downgrades

Several research firms recently commented on EIG. JMP Securities upgraded Employers to a “hold” rating in a research note on Thursday, August 1st. Truist Financial increased their price objective on shares of Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, StockNews.com lowered shares of Employers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

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.