Victory Capital Management Inc. Acquires 760 Shares of Employers Holdings Inc (NYSE:EIG)

Victory Capital Management Inc. grew its holdings in shares of Employers Holdings Inc (NYSE:EIG) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,366 shares of the financial services provider’s stock after acquiring an additional 760 shares during the period. Victory Capital Management Inc.’s holdings in Employers were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Employers in the fourth quarter worth approximately $8,935,000. Raymond James Financial Inc. bought a new position in Employers in the 4th quarter worth $7,451,000. JPMorgan Chase & Co. increased its stake in Employers by 158.7% in the 4th quarter. JPMorgan Chase & Co. now owns 205,698 shares of the financial services provider’s stock worth $10,538,000 after buying an additional 126,186 shares in the last quarter. GAMMA Investing LLC increased its stake in Employers by 5,792.9% in the 1st quarter. GAMMA Investing LLC now owns 108,724 shares of the financial services provider’s stock worth $5,506,000 after buying an additional 106,879 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Employers during the fourth quarter valued at about $4,688,000. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Employers Stock Down 5.5%

NYSE EIG opened at $38.99 on Friday. Employers Holdings Inc has a twelve month low of $38.19 and a twelve month high of $54.44. The business has a 50-day moving average price of $46.71 and a 200-day moving average price of $48.36. The firm has a market cap of $937.39 million, a price-to-earnings ratio of 9.51 and a beta of 0.52.

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

Employers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors 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 dividend on an annualized basis and a dividend yield of 3.3%. Employers’s dividend payout ratio is currently 31.22%.

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.