Bank of Montreal Can Purchases New Position in Employers Holdings, Inc. (NYSE:EIG)

Bank of Montreal Can purchased a new stake in Employers Holdings, Inc. (NYSE:EIG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,623 shares of the financial services provider’s stock, valued at approximately $1,522,000. Bank of Montreal Can owned about 0.14% of Employers as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp grew its position in shares of Employers by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,511 shares of the financial services provider’s stock valued at $1,022,000 after buying an additional 292 shares during the last quarter. Inspire Investing LLC increased its position in shares of Employers by 4.3% during the second quarter. Inspire Investing LLC now owns 8,225 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 336 shares in the last quarter. Isthmus Partners LLC lifted its holdings in shares of Employers by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 375 shares during the last quarter. Sei Investments Co. boosted its position in shares of Employers by 8.0% in the 2nd quarter. Sei Investments Co. now owns 10,678 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 795 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in Employers during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities upgraded Employers to a “hold” rating in a research note on Thursday, August 1st.

Employers Stock Performance

Shares of NYSE:EIG opened at $48.64 on Friday. Employers Holdings, Inc. has a one year low of $36.65 and a one year high of $49.30. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.31 and a beta of 0.24. The company has a 50-day simple moving average of $47.13 and a 200-day simple moving average of $44.53.

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

Employers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.20 annualized dividend and a yield of 2.47%. Employers’s dividend payout ratio is currently 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.