Employers Holdings Inc $EIG Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in shares of Employers Holdings Inc (NYSE:EIG) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 605,373 shares of the financial services provider’s stock after selling 3,227 shares during the period. Geode Capital Management LLC owned 2.57% of Employers worth $28,565,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in Employers by 8.0% in the first 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. First Citizens Bank & Trust Co. purchased a new position in shares of Employers in the 2nd quarter valued at about $279,000. XTX Topco Ltd purchased a new position in shares of Employers in the 1st quarter valued at about $294,000. Royal Bank of Canada raised its position in shares of Employers by 32.8% during the 1st quarter. Royal Bank of Canada now owns 6,037 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in Employers by 20.8% during the second quarter. Inspire Investing LLC now owns 8,258 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 1,421 shares during the last quarter. Hedge funds and other institutional investors own 80.49% of the company’s stock.

Employers Trading Up 0.6%

Shares of EIG opened at $39.85 on Friday. The company’s 50 day simple moving average is $40.54 and its 200-day simple moving average is $43.62. The firm has a market cap of $895.79 million, a PE ratio of 9.72 and a beta of 0.52. Employers Holdings Inc has a 12-month low of $35.73 and a 12-month high of $54.19.

Employers (NYSE:EIG) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.71). The business had revenue of $239.30 million for the quarter, compared to analyst estimates of $216.60 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 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. As a group, equities research analysts forecast 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, November 26th. Investors of record on Wednesday, November 12th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, November 12th. Employers’s payout ratio is 50.59%.

Insider Buying and Selling

In related news, EVP Michael Pedraja acquired 5,500 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average cost of $37.09 per share, with a total value of $203,995.00. Following the transaction, the executive vice president owned 17,830 shares of the company’s stock, valued at $661,314.70. The trade was a 44.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EIG has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Employers from a “hold” rating to a “sell” rating in a research note on Monday, August 25th. Zacks Research downgraded shares of Employers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Employers in a research note on Tuesday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

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.