GAMMA Investing LLC Increases Position in Employers Holdings, Inc. (NYSE:EIG)

GAMMA Investing LLC grew its position in shares of Employers Holdings, Inc. (NYSE:EIG) by 5,792.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,724 shares of the financial services provider’s stock after purchasing an additional 106,879 shares during the period. GAMMA Investing LLC owned 0.45% of Employers worth $5,506,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. lifted its position in Employers by 9.5% during 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 buying an additional 48,844 shares in the last quarter. Northern Trust Corp grew its position in shares of Employers by 0.7% during the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. increased 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 buying an additional 4,479 shares during the period. Boston Partners lifted its stake 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 during the period. Finally, Renaissance Technologies LLC lifted its stake 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 during the period. 80.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Employers

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

Employers Price Performance

EIG stock opened at $47.07 on Tuesday. Employers Holdings, Inc. has a 12 month low of $40.66 and a 12 month high of $54.44. The firm has a market cap of $1.13 billion, a PE ratio of 9.99 and a beta of 0.56. The firm has a 50 day simple moving average of $48.43 and a 200 day simple moving average of $49.71.

Employers (NYSE:EIG) last issued its quarterly 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 business had revenue of $202.60 million during the quarter, compared to the consensus estimate of $216.81 million. Employers had a net margin of 13.47% and a return on equity of 8.99%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. As a group, sell-side analysts expect that Employers Holdings, Inc. will post 3.63 earnings per share for the current year.

Employers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This is a positive change from Employers’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 2.72%. Employers’s dividend payout ratio (DPR) is presently 31.07%.

About Employers

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.