Rhumbline Advisers Sells 2,078 Shares of Employers Holdings, Inc. (NYSE:EIG)

Rhumbline Advisers reduced its position in Employers Holdings, Inc. (NYSE:EIG) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,426 shares of the financial services provider’s stock after selling 2,078 shares during the period. Rhumbline Advisers’ holdings in Employers were worth $3,429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Employers by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 3,154,256 shares of the financial services provider’s stock valued at $124,278,000 after purchasing an additional 16,997 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Employers by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,089,817 shares of the financial services provider’s stock worth $82,339,000 after acquiring an additional 27,320 shares during the period. LSV Asset Management boosted its stake in shares of Employers by 58.9% during the 1st quarter. LSV Asset Management now owns 798,826 shares of the financial services provider’s stock worth $36,259,000 after acquiring an additional 295,983 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Employers by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 424,158 shares of the financial services provider’s stock valued at $16,712,000 after acquiring an additional 26,555 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Employers by 4.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 290,745 shares of the financial services provider’s stock worth $11,455,000 after purchasing an additional 12,100 shares in the last quarter. 80.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities raised shares of Employers to a “hold” rating in a report on Thursday, August 1st.

Employers Stock Performance

Shares of Employers stock opened at $48.04 on Wednesday. Employers Holdings, Inc. has a 12 month low of $36.65 and a 12 month high of $49.30. The stock’s fifty day moving average price is $46.51 and its 200-day moving average price is $44.25. The firm has a market cap of $1.22 billion, a P/E ratio of 10.18 and a beta of 0.24.

Employers (NYSE:EIG) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.02. Employers had a return on equity of 9.95% and a net margin of 13.76%. The company had revenue of $217.00 million for the quarter, compared to analyst estimates of $223.82 million. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Analysts forecast that Employers Holdings, Inc. will post 3.63 earnings per share for the current year.

Employers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Wednesday, August 14th. Employers’s dividend payout ratio (DPR) is presently 25.42%.

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.