Insider Buying: Employers (NYSE:EIG) EVP Purchases $79,460.00 in Stock

Employers Holdings Inc (NYSE:EIG) EVP Michael Pedraja bought 2,000 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was bought at an average cost of $39.73 per share, for a total transaction of $79,460.00. Following the purchase, the executive vice president directly owned 19,830 shares of the company’s stock, valued at approximately $787,845.90. This trade represents a 11.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Employers Trading Up 2.4%

Shares of EIG stock traded up $0.93 on Tuesday, reaching $40.14. The company had a trading volume of 513,652 shares, compared to its average volume of 283,279. The stock has a market cap of $902.23 million, a PE ratio of 121.62 and a beta of 0.57. The company has a 50-day moving average of $43.56 and a 200-day moving average of $42.00. Employers Holdings Inc has a 12 month low of $35.73 and a 12 month high of $52.28.

Employers (NYSE:EIG) last posted its earnings results on Thursday, February 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.25. The business had revenue of $170.50 million during the quarter, compared to analysts’ expectations of $217.35 million. Employers had a return on equity of 2.10% and a net margin of 1.26%.Employers’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 EPS. Sell-side analysts anticipate that Employers Holdings Inc will post 3.63 earnings per share for the current year.

Employers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, March 4th. Employers’s dividend payout ratio is 387.88%.

Analysts Set New Price Targets

EIG has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Employers from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Research raised shares of Employers from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Employers in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Institutional Trading of Employers

A number of hedge funds have recently made changes to their positions in the business. Dean Capital Management increased its position in Employers by 292.3% during the fourth quarter. Dean Capital Management now owns 65,339 shares of the financial services provider’s stock worth $2,821,000 after acquiring an additional 48,683 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of Employers by 56.4% during the 4th quarter. First Citizens Bank & Trust Co. now owns 8,667 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 3,127 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Employers by 7.8% during the fourth quarter. Empowered Funds LLC now owns 93,394 shares of the financial services provider’s stock worth $4,032,000 after purchasing an additional 6,783 shares during the period. XTX Topco Ltd bought a new position in shares of Employers during the fourth quarter worth approximately $1,792,000. Finally, VARCOV Co. acquired a new stake in shares of Employers in the fourth quarter valued at approximately $673,000. 80.49% of the stock is owned by institutional investors and hedge funds.

About Employers

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.