Fmr LLC lowered its position in shares of Employers Holdings, Inc. (NYSE:EIG) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,567,262 shares of the financial services provider’s stock after selling 38,600 shares during the quarter. Fmr LLC owned approximately 4.78% of Employers worth $65,778,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in EIG. Teachers Advisors LLC raised its position in shares of Employers by 355.7% during the third quarter. Teachers Advisors LLC now owns 272,262 shares of the financial services provider’s stock worth $12,333,000 after acquiring an additional 212,515 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of Employers by 2,945.5% during the fourth quarter. WINTON GROUP Ltd now owns 168,659 shares of the financial services provider’s stock worth $7,079,000 after acquiring an additional 163,121 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Employers during the third quarter worth $6,168,000. TIAA CREF Investment Management LLC raised its position in shares of Employers by 26.7% during the third quarter. TIAA CREF Investment Management LLC now owns 325,441 shares of the financial services provider’s stock worth $14,742,000 after acquiring an additional 68,643 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Employers by 38.6% during the fourth quarter. Millennium Management LLC now owns 212,071 shares of the financial services provider’s stock worth $8,901,000 after acquiring an additional 59,111 shares during the last quarter. Institutional investors own 82.04% of the company’s stock.
Separately, Zacks Investment Research downgraded Employers from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th.
NYSE EIG opened at $40.70 on Tuesday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 9.96 and a beta of 0.77. Employers Holdings, Inc. has a 12 month low of $39.10 and a 12 month high of $47.97.
Employers (NYSE:EIG) last released its quarterly earnings data on Wednesday, February 20th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.62. The business had revenue of $205.80 million during the quarter, compared to the consensus estimate of $198.98 million. Employers had a return on equity of 14.04% and a net margin of 17.09%. During the same quarter in the prior year, the company posted $1.06 earnings per share. On average, equities analysts expect that Employers Holdings, Inc. will post 2.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Tuesday, March 5th. This is an increase from Employers’s previous quarterly dividend of $0.20. Employers’s dividend payout ratio is currently 21.41%.
In related news, Director Valerie R. Glenn sold 10,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $41.80, for a total value of $418,000.00. Following the completion of the sale, the director now owns 30,957 shares in the company, valued at $1,294,002.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lawrence S. Rogers sold 1,495 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $40.34, for a total value of $60,308.30. Following the completion of the sale, the senior vice president now owns 11,987 shares of the company’s stock, valued at approximately $483,555.58. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
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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; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.
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