Invesco Ltd. Has $15.92 Million Stock Holdings in Employers Holdings Inc $EIG

Invesco Ltd. cut its stake in Employers Holdings Inc (NYSE:EIG) by 28.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 314,325 shares of the financial services provider’s stock after selling 124,635 shares during the period. Invesco Ltd. owned approximately 1.31% of Employers worth $15,917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of EIG. Wells Fargo & Company MN raised its position in Employers by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 14,513 shares of the financial services provider’s stock worth $743,000 after acquiring an additional 3,159 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Employers during the 4th quarter worth about $244,000. Barclays PLC raised its holdings in shares of Employers by 4.7% in the 4th quarter. Barclays PLC now owns 43,459 shares of the financial services provider’s stock valued at $2,227,000 after purchasing an additional 1,958 shares during the period. Mariner LLC lifted its stake in Employers by 18.4% in the 4th quarter. Mariner LLC now owns 11,208 shares of the financial services provider’s stock valued at $574,000 after purchasing an additional 1,743 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Employers during the fourth quarter worth about $230,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

Employers Stock Up 1.4%

NYSE EIG opened at $43.7270 on Friday. Employers Holdings Inc has a 12-month low of $38.19 and a 12-month high of $54.44. The firm has a 50-day moving average price of $44.88 and a two-hundred day moving average price of $47.57. The company has a market capitalization of $1.03 billion, a P/E ratio of 10.67 and a beta of 0.52.

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

Employers Dividend Announcement

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

Insider Activity

In other Employers news, EVP John M. Mutschink sold 2,000 shares of the business’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 transaction of $98,240.00. Following the sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised 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.com, Employers presently has an average rating of “Buy” and a consensus target price of $58.00.

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.