Smith Asset Management Group LP boosted its position in shares of Employers Holdings Inc. (NYSE:EIG) by 153.6% during the second quarter, Holdings Channel reports. The firm owned 92,210 shares of the company’s stock after buying an additional 55,850 shares during the period. Smith Asset Management Group LP owned approximately 0.28% of Employers Holdings worth $2,676,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of EIG. Dalton Greiner Hartman Maher & Co. purchased a new stake in shares of Employers Holdings during the second quarter worth approximately $12,834,000. Norges Bank bought a new stake in Employers Holdings during the fourth quarter valued at about $11,721,000. Teachers Advisors Inc. raised its stake in Employers Holdings by 223.9% in the first quarter. Teachers Advisors Inc. now owns 311,419 shares of the company’s stock valued at $8,763,000 after buying an additional 215,264 shares during the last quarter. Renaissance Technologies LLC raised its stake in Employers Holdings by 51.6% in the first quarter. Renaissance Technologies LLC now owns 402,200 shares of the company’s stock valued at $11,318,000 after buying an additional 136,928 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Employers Holdings during the second quarter valued at about $3,815,000. Institutional investors own 78.25% of the company’s stock.
Employers Holdings Inc. (NYSE:EIG) traded down 0.68% during mid-day trading on Friday, reaching $30.65. The company had a trading volume of 98,070 shares. The company has a market capitalization of $994.22 million, a P/E ratio of 10.19 and a beta of 1.05. Employers Holdings Inc. has a one year low of $20.86 and a one year high of $32.03. The stock has a 50 day moving average price of $29.43 and a 200 day moving average price of $29.15.
Employers Holdings (NYSE:EIG) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. Employers Holdings had a return on equity of 11.05% and a net margin of 12.66%. The firm earned $201.80 million during the quarter, compared to the consensus estimate of $197.92 million. On average, equities analysts expect that Employers Holdings Inc. will post $2.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were issued a dividend of $0.09 per share. The ex-dividend date was Monday, August 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.17%. Employers Holdings’s payout ratio is currently 11.92%.
Separately, Zacks Investment Research lowered Employers Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, August 1st.
In other news, EVP Richard P. Hallman sold 16,588 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $27.71, for a total value of $459,653.48. Following the completion of the sale, the executive vice president now directly owns 30,342 shares in the company, valued at approximately $840,776.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Stephen V. Festa sold 9,647 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $32.00, for a total value of $308,704.00. Following the completion of the sale, the chief operating officer now owns 48,669 shares of the company’s stock, valued at $1,557,408. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
About Employers Holdings
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. The Company 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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