Principal Financial Group Inc. Has $6.23 Million Stake in Employers Holdings Inc (NYSE:EIG)

Principal Financial Group Inc. boosted its stake in shares of Employers Holdings Inc (NYSE:EIG) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,075 shares of the financial services provider’s stock after acquiring an additional 3,226 shares during the quarter. Principal Financial Group Inc. owned 0.51% of Employers worth $6,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EIG. Allspring Global Investments Holdings LLC boosted its holdings in shares of Employers by 11.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 26,038 shares of the financial services provider’s stock worth $1,319,000 after acquiring an additional 2,714 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Employers by 9.0% during the first quarter. QRG Capital Management Inc. now owns 37,608 shares of the financial services provider’s stock worth $1,904,000 after purchasing an additional 3,102 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Employers by 6.3% in the first quarter. Exchange Traded Concepts LLC now owns 39,818 shares of the financial services provider’s stock valued at $2,016,000 after buying an additional 2,372 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Employers by 439.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 50,669 shares of the financial services provider’s stock valued at $2,566,000 after acquiring an additional 41,277 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in Employers by 22.7% in the 1st quarter. Handelsbanken Fonder AB now owns 7,037 shares of the financial services provider’s stock valued at $356,000 after acquiring an additional 1,300 shares in the last quarter. 80.49% of the stock is owned by institutional investors.

Insider Activity

In other Employers news, EVP Michael Pedraja bought 3,050 shares of the stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $48.59 per share, with a total value of $148,199.50. Following the acquisition, the executive vice president owned 7,330 shares of the company’s stock, valued at approximately $356,164.70. The trade was a 71.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John M. Mutschink sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $49.12, for a total transaction of $98,240.00. Following the sale, the executive vice president owned 19,789 shares of the company’s stock, valued at $972,035.68. The trade was a 9.18% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Employers Trading Up 1.3%

Shares of EIG stock opened at $46.42 on Thursday. Employers Holdings Inc has a 1 year low of $44.80 and a 1 year high of $54.44. The firm’s 50 day moving average is $47.71 and its 200-day moving average is $48.74. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.27 and a beta of 0.54.

Employers (NYSE:EIG) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.18. The firm had revenue of $202.60 million for the quarter, compared to the consensus estimate of $216.81 million. Employers had a return on equity of 9.21% and a net margin of 11.99%. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS. On average, equities research analysts forecast that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.76%. This is a positive change from Employers’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, May 14th. Employers’s dividend payout ratio (DPR) is presently 31.07%.

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.