Northern Trust Corp Sells 18,956 Shares of Employers Holdings Inc $EIG

Northern Trust Corp decreased its holdings in shares of Employers Holdings Inc (NYSE:EIG) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 487,184 shares of the financial services provider’s stock after selling 18,956 shares during the period. Northern Trust Corp owned about 2.03% of Employers worth $24,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Aquatic Capital Management LLC purchased a new position in shares of Employers during the 4th quarter valued at $29,000. Lazard Asset Management LLC purchased a new position in shares of Employers during the 4th quarter valued at $48,000. GAMMA Investing LLC lifted its stake in shares of Employers by 16.4% during the 1st quarter. GAMMA Investing LLC now owns 2,147 shares of the financial services provider’s stock valued at $109,000 after buying an additional 302 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Employers during the 4th quarter valued at $137,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Employers by 8.0% during the 1st 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 in the last quarter. Institutional investors own 80.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Employers from a “hold” rating to a “sell” rating in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $58.00.

Employers Stock Up 0.6%

Shares of EIG stock opened at $43.18 on Monday. The stock has a market cap of $1.02 billion, a P/E ratio of 10.53 and a beta of 0.53. Employers Holdings Inc has a 52 week low of $38.19 and a 52 week high of $54.44. The company’s fifty day simple moving average is $44.55 and its two-hundred day simple moving average is $47.34.

Employers (NYSE:EIG) last announced its quarterly earnings results 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 company had revenue of $246.30 million during the quarter, compared to analysts’ expectations of $217.17 million. Employers had a return on equity of 7.56% and a net margin of 11.37%.The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 EPS. On average, analysts anticipate that Employers Holdings Inc will post 3.63 EPS for the current fiscal year.

Employers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were paid a $0.32 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $1.28 annualized dividend and a yield of 3.0%. Employers’s payout ratio is presently 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.