Morgan Stanley reduced its position in shares of Employers Holdings Inc (NYSE:EIG) by 22.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 210,710 shares of the financial services provider’s stock after selling 62,144 shares during the period. Morgan Stanley owned approximately 0.65% of Employers Holdings worth $7,996,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in Employers Holdings during the first quarter worth approximately $101,000. State of Alaska Department of Revenue boosted its position in Employers Holdings by 1.1% in the first quarter. State of Alaska Department of Revenue now owns 3,550 shares of the financial services provider’s stock worth $134,000 after buying an additional 40 shares in the last quarter. Advisors Preferred LLC acquired a new position in Employers Holdings during the first quarter worth approximately $214,000. Victory Capital Management Inc. boosted its position in Employers Holdings by 25.3% in the first quarter. Victory Capital Management Inc. now owns 5,768 shares of the financial services provider’s stock worth $219,000 after buying an additional 1,163 shares in the last quarter. Finally, Menta Capital LLC acquired a new position in Employers Holdings during the first quarter worth approximately $238,000. Hedge funds and other institutional investors own 77.61% of the company’s stock.
Employers Holdings Inc (NYSE:EIG) traded down 1.75% on Friday, reaching $42.15. The company’s stock had a trading volume of 104,069 shares. The firm has a 50 day moving average price of $42.88 and a 200 day moving average price of $39.84. Employers Holdings Inc has a 52 week low of $28.33 and a 52 week high of $44.55. The stock has a market capitalization of $1.37 billion, a P/E ratio of 13.05 and a beta of 1.09.
Employers Holdings (NYSE:EIG) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The business had revenue of $191.10 million for the quarter, compared to analyst estimates of $194.78 million. Employers Holdings had a net margin of 13.72% and a return on equity of 10.25%. On average, equities analysts anticipate that Employers Holdings Inc will post $2.30 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. Employers Holdings’s dividend payout ratio (DPR) is presently 18.63%.
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A number of research analysts recently commented on the company. Zacks Investment Research upgraded Employers Holdings from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Friday, May 19th. BidaskClub cut Employers Holdings from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd.
In other news, CEO Douglas D. Dirks sold 83,890 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $41.93, for a total value of $3,517,507.70. Following the sale, the chief executive officer now owns 409,535 shares in the company, valued at approximately $17,171,802.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.
Employers Holdings 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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