Balyasny Asset Management L.P. Boosts Stock Position in Employers Holdings, Inc. (NYSE:EIG)

Balyasny Asset Management L.P. boosted its holdings in shares of Employers Holdings, Inc. (NYSE:EIG) by 89.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,064 shares of the financial services provider’s stock after purchasing an additional 5,694 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Employers were worth $618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. grew its position in shares of Employers by 9.5% in the 4th quarter. American Century Companies Inc. now owns 565,154 shares of the financial services provider’s stock worth $28,953,000 after acquiring an additional 48,844 shares in the last quarter. Northern Trust Corp grew its position in shares of Employers by 0.7% in the 4th quarter. Northern Trust Corp now owns 506,140 shares of the financial services provider’s stock worth $25,930,000 after acquiring an additional 3,364 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Employers by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,263 shares of the financial services provider’s stock worth $21,684,000 after acquiring an additional 4,479 shares in the last quarter. Boston Partners grew its position in shares of Employers by 3.8% in the 4th quarter. Boston Partners now owns 280,489 shares of the financial services provider’s stock worth $14,248,000 after acquiring an additional 10,158 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Employers by 9.5% in the 4th quarter. Renaissance Technologies LLC now owns 278,400 shares of the financial services provider’s stock worth $14,262,000 after acquiring an additional 24,100 shares in the last quarter. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

Employers Trading Up 2.4%

Shares of EIG opened at $49.21 on Friday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 10.45 and a beta of 0.56. The stock has a 50 day moving average of $48.96 and a 200-day moving average of $50.09. Employers Holdings, Inc. has a 52 week low of $40.57 and a 52 week high of $54.44.

Employers (NYSE:EIG) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.18. Employers had a return on equity of 8.99% and a net margin of 13.47%. The business had revenue of $202.60 million during the quarter, compared to analyst estimates of $216.81 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, sell-side analysts predict that Employers Holdings, Inc. will post 3.63 earnings per share for the current fiscal year.

Employers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.60%. This is a positive change from Employers’s previous quarterly dividend of $0.30. Employers’s payout ratio is currently 31.07%.

Insider Activity at Employers

In related news, insider Ann Marie Smith sold 1,385 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $51.24, for a total transaction of $70,967.40. Following the completion of the transaction, the insider now owns 8,801 shares in the company, valued at $450,963.24. The trade was a 13.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Pedraja acquired 3,050 shares of Employers stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $48.59 per share, with a total value of $148,199.50. Following the transaction, the executive vice president now directly owns 7,330 shares in the company, valued at approximately $356,164.70. This trade represents a 71.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 5,385 shares of company stock worth $276,267 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Employers Profile

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers’ compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.