Invesco Ltd. Sells 124,635 Shares of Employers Holdings Inc $EIG

Invesco Ltd. reduced its holdings in shares of Employers Holdings Inc (NYSE:EIG) by 28.4% in the first quarter, Holdings Channel reports. The institutional investor owned 314,325 shares of the financial services provider’s stock after selling 124,635 shares during the period. Invesco Ltd.’s holdings in Employers were worth $15,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EIG. Aquatic Capital Management LLC bought a new position in Employers in the 4th quarter valued at about $29,000. Lazard Asset Management LLC purchased a new stake in shares of Employers in the fourth quarter worth approximately $48,000. GAMMA Investing LLC raised its stake in shares of Employers by 16.4% in the first quarter. GAMMA Investing LLC now owns 2,147 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 302 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Employers in the fourth quarter valued at approximately $137,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Employers by 8.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,895 shares of the financial services provider’s stock valued at $147,000 after buying an additional 215 shares during the last quarter. 80.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Employers from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $58.00.

Employers Trading Up 1.4%

Employers stock opened at $43.7270 on Friday. The business’s 50 day simple moving average is $44.88 and its 200 day simple moving average is $47.57. Employers Holdings Inc has a 12 month low of $38.19 and a 12 month high of $54.44. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 10.67 and a beta of 0.52.

Employers (NYSE:EIG) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.46). The business had revenue of $246.30 million during the quarter, compared to the consensus estimate of $217.17 million. Employers had a return on equity of 7.56% and a net margin of 11.37%.The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the business posted $1.10 earnings per share. As a group, equities research analysts forecast that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, August 13th. This represents a $1.28 annualized dividend and a yield of 2.9%. Employers’s payout ratio is presently 31.22%.

Insider Buying and Selling

In other news, EVP John M. Mutschink sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was 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 in the company, valued at approximately $972,035.68. This represents a 9.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by corporate 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.