TD Asset Management Inc. purchased a new stake in Employers Holdings, Inc. (NYSE:EIG) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 45,400 shares of the financial services provider’s stock, valued at approximately $1,825,000.
A number of other large investors have also recently added to or reduced their stakes in EIG. Aviance Capital Partners LLC grew its position in shares of Employers by 4.5% during the 1st quarter. Aviance Capital Partners LLC now owns 47,746 shares of the financial services provider’s stock worth $1,931,000 after buying an additional 2,035 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of 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 in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Employers by 69.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 393,253 shares of the financial services provider’s stock worth $15,908,000 after buying an additional 160,546 shares in the last quarter. BlackRock Inc. grew its position in shares of Employers by 6.8% during the 1st quarter. BlackRock Inc. now owns 4,429,570 shares of the financial services provider’s stock worth $179,174,000 after buying an additional 282,190 shares in the last quarter. Finally, Cigna Investments Inc. New grew its position in shares of Employers by 26.7% during the 1st quarter. Cigna Investments Inc. New now owns 15,335 shares of the financial services provider’s stock worth $620,000 after buying an additional 3,236 shares in the last quarter. Hedge funds and other institutional investors own 76.78% of the company’s stock.
Shares of NYSE EIG opened at $44.05 on Monday. The firm has a market cap of $1.43 billion, a P/E ratio of 15.24 and a beta of 1.03. Employers Holdings, Inc. has a 1-year low of $38.35 and a 1-year high of $50.45.
Employers (NYSE:EIG) last issued its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.38. The firm had revenue of $204.10 million during the quarter, compared to analysts’ expectations of $203.79 million. Employers had a return on equity of 12.51% and a net margin of 15.10%. analysts anticipate that Employers Holdings, Inc. will post 3.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 22nd. Investors of record on Wednesday, August 8th 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 1.82%. The ex-dividend date of this dividend is Tuesday, August 7th. Employers’s dividend payout ratio (DPR) is currently 27.68%.
In related news, SVP Lawrence S. Rogers sold 880 shares of the company’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $39.90, for a total transaction of $35,112.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John P. Nelson sold 7,698 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $44.78, for a total value of $344,716.44. Following the completion of the sale, the executive vice president now owns 20,434 shares of the company’s stock, valued at $915,034.52. The disclosure for this sale can be found here. Insiders have sold a total of 17,578 shares of company stock valued at $743,038 over the last 90 days. 3.00% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on EIG. ValuEngine downgraded Employers from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised Employers from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Monday, July 30th. Finally, Boenning Scattergood began coverage on Employers in a research report on Tuesday, June 19th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Employers currently has an average rating of “Hold” and an average price target of $46.67.
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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