Bank of New York Mellon Corp decreased its position in shares of Employers Holdings, Inc. (NYSE:EIG) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 419,638 shares of the financial services provider’s stock after selling 24,278 shares during the period. Bank of New York Mellon Corp owned 1.43% of Employers worth $12,652,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP raised its stake in shares of Employers by 180.0% in the first quarter. First Trust Advisors LP now owns 99,978 shares of the financial services provider’s stock valued at $4,010,000 after purchasing an additional 64,271 shares in the last quarter. Raymond James & Associates acquired a new position in Employers during the 1st quarter worth about $206,000. Envestnet Asset Management Inc. grew its holdings in Employers by 20.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,591 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 1,812 shares during the last quarter. Comerica Bank increased its position in Employers by 3.4% in the 1st quarter. Comerica Bank now owns 30,974 shares of the financial services provider’s stock valued at $890,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of Employers by 36.8% in the first quarter. Aperio Group LLC now owns 33,475 shares of the financial services provider’s stock worth $1,356,000 after acquiring an additional 9,008 shares during the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.
Shares of EIG opened at $30.00 on Wednesday. The stock’s fifty day simple moving average is $32.76 and its 200-day simple moving average is $32.40. The firm has a market capitalization of $878.13 million, a PE ratio of 10.60 and a beta of 0.10. Employers Holdings, Inc. has a 12-month low of $25.53 and a 12-month high of $44.90.
Employers (NYSE:EIG) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.58. The company had revenue of $211.40 million for the quarter, compared to the consensus estimate of $164.18 million. Employers had a net margin of 11.30% and a return on equity of 7.12%. As a group, equities analysts predict that Employers Holdings, Inc. will post 2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.33%. Employers’s dividend payout ratio (DPR) is presently 31.25%.
Separately, Zacks Investment Research raised shares of Employers from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a report on Friday, July 24th.
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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