Bailard Inc. reduced its holdings in shares of Employers Holdings Inc (NYSE:EIG) by 15.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,700 shares of the financial services provider’s stock after selling 2,200 shares during the period. Bailard Inc.’s holdings in Employers were worth $473,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of EIG. Victory Capital Management Inc. raised its position in Employers by 34.1% during the 1st quarter. Victory Capital Management Inc. now owns 8,890 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 2,261 shares in the last quarter. Aviance Capital Partners LLC raised its position in Employers by 4.5% during the 1st quarter. Aviance Capital Partners LLC now owns 47,746 shares of the financial services provider’s stock valued at $1,931,000 after purchasing an additional 2,035 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Employers during the 4th quarter valued at $657,000. Westwood Holdings Group Inc. raised its position in Employers by 12.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 566,716 shares of the financial services provider’s stock valued at $25,162,000 after purchasing an additional 62,577 shares in the last quarter. Finally, Millennium Management LLC raised its position in Employers by 401.2% during the 4th quarter. Millennium Management LLC now owns 205,708 shares of the financial services provider’s stock valued at $9,133,000 after purchasing an additional 164,665 shares in the last quarter. 79.41% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Lenard T. Ormsby sold 1,381 shares of Employers stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $42.00, for a total value of $58,002.00. Following the transaction, the executive vice president now directly owns 21,062 shares in the company, valued at approximately $884,604. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lenard T. Ormsby sold 4,619 shares of Employers stock in a transaction on Monday, April 16th. The shares were sold at an average price of $42.00, for a total value of $193,998.00. Following the completion of the transaction, the executive vice president now owns 24,300 shares in the company, valued at $1,020,600. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.
A number of equities research analysts have weighed in on EIG shares. Zacks Investment Research raised Employers from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Monday, January 22nd. ValuEngine raised Employers from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Employers has a consensus rating of “Hold” and an average target price of $45.33.
Shares of Employers opened at $40.55 on Monday, according to MarketBeat.com. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 14.03 and a beta of 1.01. Employers Holdings Inc has a twelve month low of $38.35 and a twelve month high of $50.45.
Employers (NYSE:EIG) last issued its earnings results on Wednesday, April 25th. The financial services provider reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.33. The business had revenue of $211.60 million during the quarter, compared to analyst estimates of $259.70 million. Employers had a return on equity of 11.45% and a net margin of 13.11%. Employers’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. equities research analysts predict that Employers Holdings Inc will post 2.6 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 23rd. Stockholders of record on Wednesday, May 9th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.97%. Employers’s dividend payout ratio is presently 27.68%.
Employers Company Profile
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; and alternative distribution channels comprising its partners, as well as through national, regional, and local trade groups and associations.
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