Illinois Municipal Retirement Fund Sells 238 Shares of Employers Holdings Inc (NYSE:EIG)

Illinois Municipal Retirement Fund cut its position in Employers Holdings Inc (NYSE:EIG) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,166 shares of the financial services provider’s stock after selling 238 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Employers were worth $667,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of EIG. American Century Companies Inc. grew its position in shares of Employers by 9.5% in the fourth quarter. American Century Companies Inc. now owns 565,154 shares of the financial services provider’s stock valued at $28,953,000 after purchasing an additional 48,844 shares during the last quarter. Northern Trust Corp boosted its stake in Employers by 0.7% during the 4th quarter. Northern Trust Corp now owns 506,140 shares of the financial services provider’s stock valued at $25,930,000 after purchasing an additional 3,364 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Employers by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,263 shares of the financial services provider’s stock valued at $21,684,000 after purchasing an additional 4,479 shares during the period. Boston Partners grew its holdings in Employers by 3.8% in the 4th quarter. Boston Partners now owns 280,489 shares of the financial services provider’s stock valued at $14,248,000 after buying an additional 10,158 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in 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 buying an additional 24,100 shares during the period. Institutional investors own 80.49% of the company’s stock.

Employers Stock Down 1.5%

Shares of EIG stock opened at $46.81 on Thursday. The stock has a 50 day moving average of $48.08 and a 200-day moving average of $49.03. The firm has a market cap of $1.13 billion, a PE ratio of 11.36 and a beta of 0.54. Employers Holdings Inc has a 12 month low of $41.98 and a 12 month high of $54.44.

Employers (NYSE:EIG) last released its earnings results on Thursday, May 1st. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.69 by $0.18. The firm had revenue of $202.60 million during the quarter, compared to analysts’ expectations of $216.81 million. Employers had a net margin of 11.99% and a return on equity of 9.21%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. As a group, equities analysts predict that Employers Holdings Inc will post 3.63 EPS for the current fiscal year.

Employers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.32 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.73%. This is a positive change from Employers’s previous quarterly dividend of $0.30. Employers’s dividend payout ratio is currently 31.07%.

Insider Activity

In other news, EVP Michael Pedraja purchased 3,050 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $48.59 per share, for a total transaction of $148,199.50. Following the completion of the purchase, the executive vice president directly owned 7,330 shares of the company’s stock, valued at approximately $356,164.70. The trade was a 71.26% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John M. Mutschink sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $49.12, for a total value of $98,240.00. Following the completion of the transaction, the executive vice president directly owned 19,789 shares of the company’s stock, valued at approximately $972,035.68. This trade represents a 9.18% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Employers Company 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.