Employers Holdings, Inc. (NYSE:EIG) Sees Large Increase in Short Interest

Employers Holdings, Inc. (NYSE:EIG) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,090,000 shares, an increase of 6.9% from the December 15th total of 1,020,000 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average daily volume of 128,400 shares, the days-to-cover ratio is currently 8.5 days.

Shares of EIG traded up $0.47 during mid-day trading on Thursday, reaching $43.89. The stock had a trading volume of 731 shares, compared to its average volume of 136,511. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 10.66 and a beta of 0.71. Employers has a 12 month low of $39.31 and a 12 month high of $47.45. The business has a fifty day moving average of $42.55 and a 200 day moving average of $42.91.

Employers (NYSE:EIG) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.28. The business had revenue of $198.40 million during the quarter, compared to analyst estimates of $203.58 million. Employers had a net margin of 18.73% and a return on equity of 12.09%. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, equities analysts anticipate that Employers will post 3.3 earnings per share for the current fiscal year.

Separately, Zacks Investment Research lowered shares of Employers from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 24th.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dalton Greiner Hartman Maher & Co. boosted its position in shares of Employers by 4.6% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 139,079 shares of the financial services provider’s stock worth $5,807,000 after purchasing an additional 6,106 shares during the period. 6 Meridian boosted its position in shares of Employers by 16.9% during the fourth quarter. 6 Meridian now owns 6,311 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 912 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Employers by 138.5% during the third quarter. Squarepoint Ops LLC now owns 38,550 shares of the financial services provider’s stock worth $1,680,000 after acquiring an additional 22,384 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Employers by 20.0% during the third quarter. Public Employees Retirement System of Ohio now owns 56,775 shares of the financial services provider’s stock worth $2,474,000 after acquiring an additional 9,472 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Employers by 1.5% during the third quarter. California State Teachers Retirement System now owns 49,318 shares of the financial services provider’s stock worth $2,149,000 after acquiring an additional 708 shares during the last quarter. Institutional investors and hedge funds own 79.55% of the company’s stock.

About Employers

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.

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