Rhumbline Advisers Grows Position in Employers Holdings, Inc. (EIG)

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Rhumbline Advisers lifted its stake in Employers Holdings, Inc. (NYSE:EIG) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,007 shares of the financial services provider’s stock after buying an additional 1,449 shares during the period. Rhumbline Advisers owned about 0.28% of Employers worth $3,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EIG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Employers in the 2nd quarter valued at $279,000. IndexIQ Advisors LLC grew its holdings in shares of Employers by 8.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 54,077 shares of the financial services provider’s stock valued at $2,174,000 after buying an additional 4,371 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Employers by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 10,302 shares of the financial services provider’s stock valued at $414,000 after buying an additional 1,412 shares during the period. First Trust Advisors LP grew its holdings in shares of Employers by 163.0% in the 2nd quarter. First Trust Advisors LP now owns 102,635 shares of the financial services provider’s stock valued at $4,126,000 after buying an additional 63,605 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Employers in the 2nd quarter valued at $231,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

Several brokerages have recently issued reports on EIG. Zacks Investment Research raised shares of Employers from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Monday, July 30th. Boenning Scattergood began coverage on shares of Employers in a report on Tuesday, June 19th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Employers presently has an average rating of “Hold” and a consensus price target of $46.67.

In related news, EVP Lenard T. Ormsby sold 3,000 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $40.03, for a total value of $120,090.00. Following the sale, the executive vice president now directly owns 22,681 shares of the company’s stock, valued at approximately $907,920.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John P. Nelson sold 7,698 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $44.78, for a total transaction of $344,716.44. Following the completion of the sale, the executive vice president now directly owns 20,434 shares in the company, valued at $915,034.52. The disclosure for this sale can be found here. Insiders sold a total of 16,698 shares of company stock worth $707,926 over the last ninety days. 3.50% of the stock is currently owned by insiders.

Shares of EIG stock opened at $45.60 on Friday. Employers Holdings, Inc. has a 12-month low of $38.35 and a 12-month high of $50.45. The firm has a market capitalization of $1.49 billion, a PE ratio of 15.78 and a beta of 1.04.

Employers (NYSE:EIG) last announced its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.38. The company had revenue of $204.10 million during the quarter, compared to analyst estimates of $203.79 million. Employers had a net margin of 15.10% and a return on equity of 12.51%. sell-side analysts expect 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 was paid on Wednesday, August 22nd. Investors of record on Wednesday, August 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 7th. This represents a $0.80 annualized dividend and a yield of 1.75%. Employers’s dividend payout ratio is currently 27.68%.

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; and alternative distribution channels comprising its partners, as well as through national, regional, and local trade groups and associations.

See Also: Hedge Funds

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Institutional Ownership by Quarter for Employers (NYSE:EIG)

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