Philadelphia Financial Management of San Francisco LLC lessened its stake in Employers Holdings, Inc. (NYSE:EIG) by 43.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 252,242 shares of the financial services provider’s stock after selling 194,212 shares during the quarter. Employers comprises about 1.7% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 29th largest holding. Philadelphia Financial Management of San Francisco LLC owned about 0.78% of Employers worth $11,200,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in Employers by 401.2% in the fourth 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 during the last quarter. Teachers Advisors LLC increased its holdings in shares of Employers by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 257,072 shares of the financial services provider’s stock worth $11,414,000 after acquiring an additional 13,776 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Employers by 36.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 113,800 shares of the financial services provider’s stock worth $5,053,000 after acquiring an additional 30,141 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of Employers in the fourth quarter worth about $597,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Employers in the fourth quarter worth about $722,000. Institutional investors and hedge funds own 79.59% of the company’s stock.
Shares of Employers Holdings, Inc. (EIG) traded down $0.15 during trading on Wednesday, hitting $41.00. The company’s stock had a trading volume of 7,871 shares, compared to its average volume of 138,762. Employers Holdings, Inc. has a 12 month low of $35.90 and a 12 month high of $50.45. The company has a market capitalization of $1,350.75, a P/E ratio of 13.49 and a beta of 1.10.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be issued a $0.20 dividend. This is an increase from Employers’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, March 6th. Employers’s dividend payout ratio is 26.23%.
EIG has been the subject of several recent analyst reports. ValuEngine downgraded Employers from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Employers from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Employers currently has an average rating of “Hold” and an average price target of $46.00.
In other news, EVP John P. Nelson sold 3,400 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $44.56, for a total transaction of $151,504.00. Following the completion of the transaction, the executive vice president now directly owns 20,377 shares of the company’s stock, valued at $907,999.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John P. Nelson sold 9,825 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $45.68, for a total value of $448,806.00. Following the transaction, the executive vice president now directly owns 23,802 shares of the company’s stock, valued at $1,087,275.36. The disclosure for this sale can be found here. Insiders sold 32,904 shares of company stock valued at $1,493,144 over the last 90 days. Corporate insiders own 3.50% of the company’s stock.
Employers Company Profile
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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