Texas Permanent School Fund lowered its holdings in Employers Holdings, Inc. (NYSE:EIG) by 7.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 21,922 shares of the financial services provider’s stock after selling 1,742 shares during the quarter. Texas Permanent School Fund owned about 0.07% of Employers worth $973,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp purchased a new position in shares of Employers in the 2nd quarter valued at about $214,000. Piedmont Investment Advisors LLC purchased a new position in shares of Employers in the 2nd quarter valued at about $295,000. Crossmark Global Holdings Inc. purchased a new position in shares of Employers in the 3rd quarter valued at about $374,000. Cubist Systematic Strategies LLC purchased a new position in Employers during the 3rd quarter worth approximately $399,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Employers by 33.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 11,200 shares of the financial services provider’s stock worth $509,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.
In related news, EVP John P. Nelson sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $43.23, for a total transaction of $86,460.00. Following the transaction, the executive vice president now owns 28,672 shares in the company, valued at approximately $1,239,490.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John P. Nelson sold 2,679 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $43.26, for a total value of $115,893.54. Following the transaction, the executive vice president now owns 16,977 shares in the company, valued at approximately $734,425.02. The disclosure for this sale can be found here. Insiders have sold a total of 91,204 shares of company stock worth $4,381,909 in the last 90 days. 3.50% of the stock is currently owned by company insiders.
EIG has been the topic of a number of research reports. SunTrust Banks restated a “buy” rating and set a $53.00 price target on shares of Employers in a research note on Friday, October 27th. Zacks Investment Research upgraded Employers from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Monday, October 30th. Finally, ValuEngine downgraded Employers from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Employers has a consensus rating of “Hold” and a consensus price target of $46.00.
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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