Piermont Capital Management Inc. decreased its stake in shares of Employers Holdings Inc (NYSE:EIG) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,481 shares of the financial services provider’s stock after selling 1,940 shares during the period. Piermont Capital Management Inc.’s holdings in Employers were worth $545,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of EIG. Amalgamated Bank acquired a new position in Employers during the fourth quarter worth $204,000. Unison Advisors LLC acquired a new stake in Employers during the 4th quarter worth approximately $305,000. Citadel Advisors LLC acquired a new stake in Employers during the 4th quarter worth approximately $319,000. Victory Capital Management Inc. boosted 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 worth $360,000 after buying an additional 2,261 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Employers in the 4th quarter worth approximately $501,000. 78.02% of the stock is owned by institutional investors.
In other news, EVP Lenard T. Ormsby sold 1,381 shares of the firm’s stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $42.00, for a total transaction of $58,002.00. Following the completion of the transaction, the executive vice president now directly owns 21,062 shares in the company, valued at $884,604. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lenard T. Ormsby sold 4,619 shares of the firm’s 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 transaction, the executive vice president now owns 24,300 shares of the company’s stock, valued at $1,020,600. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Several research firms have recently weighed in on EIG. ValuEngine upgraded shares of Employers from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd. Zacks Investment Research upgraded shares of Employers from a “sell” rating to a “hold” rating in a research note on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $45.33.
Shares of EIG opened at $40.60 on Wednesday. The stock has a market cap of $1.34 billion, a PE ratio of 14.05 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 quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.33. Employers had a net margin of 13.11% and a return on equity of 11.45%. The business had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $259.70 million. During the same period last year, the business earned $0.88 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. sell-side analysts predict that Employers Holdings Inc will post 2.6 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 23rd. Stockholders of record on Wednesday, May 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Tuesday, May 8th. Employers’s dividend payout ratio (DPR) 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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