Sterling Capital Management LLC acquired a new position in shares of Employers Holdings, Inc. (NYSE:EIG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,563 shares of the financial services provider’s stock, valued at approximately $1,158,000. Sterling Capital Management LLC owned approximately 0.08% of Employers at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in EIG. BlackRock Inc. boosted its position in shares of Employers by 7.9% during the 2nd quarter. BlackRock Inc. now owns 4,780,400 shares of the financial services provider’s stock worth $192,172,000 after purchasing an additional 350,830 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Employers during the 3rd quarter worth about $9,438,000. FMR LLC boosted its position in shares of Employers by 8.3% during the 2nd quarter. FMR LLC now owns 1,677,780 shares of the financial services provider’s stock worth $67,447,000 after purchasing an additional 128,710 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Employers by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,684,431 shares of the financial services provider’s stock worth $107,915,000 after purchasing an additional 90,058 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Employers by 163.0% during the 2nd quarter. First Trust Advisors LP now owns 102,635 shares of the financial services provider’s stock worth $4,126,000 after purchasing an additional 63,605 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.
EIG opened at $46.76 on Friday. Employers Holdings, Inc. has a fifty-two week low of $38.35 and a fifty-two week high of $50.45. The stock has a market capitalization of $1.56 billion, a P/E ratio of 16.18 and a beta of 0.90.
Employers (NYSE:EIG) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.41. Employers had a net margin of 17.89% and a return on equity of 13.43%. The company had revenue of $228.90 million for the quarter, compared to analyst estimates of $205.48 million. Analysts expect that Employers Holdings, Inc. will post 3.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.71%. Employers’s dividend payout ratio is presently 27.68%.
In related news, EVP Lenard T. Ormsby sold 4,000 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $46.62, for a total value of $186,480.00. Following the sale, the executive vice president now owns 23,681 shares in the company, valued at approximately $1,104,008.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lenard T. Ormsby sold 2,904 shares of the company’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $43.00, for a total transaction of $124,872.00. Following the completion of the sale, the executive vice president now owns 19,777 shares in the company, valued at approximately $850,411. The disclosure for this sale can be found here. Insiders sold a total of 9,172 shares of company stock worth $417,948 in the last 90 days. 3.50% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Employers from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective on the stock in a research report on Monday, October 29th. Boenning Scattergood upgraded shares of Employers from a “neutral” rating to an “outperform” rating and set a $47.00 target price on the stock in a report on Thursday, October 25th.
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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; and alternative distribution channels comprising its partners, as well as through national, regional, and local trade groups and associations.
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