Employers Holdings, Inc. (NYSE:EIG) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in shares of Employers Holdings, Inc. (NYSE:EIG) by 20.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 121,456 shares of the financial services provider’s stock after selling 31,232 shares during the quarter. Millennium Management LLC owned approximately 0.48% of Employers worth $5,178,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. LSV Asset Management boosted its position in Employers by 58.9% during the first 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. Vanguard Group Inc. boosted its position in Employers by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 3,154,256 shares of the financial services provider’s stock worth $124,278,000 after acquiring an additional 16,997 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Employers by 12.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,334 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 834 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in Employers by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 22,511 shares of the financial services provider’s stock worth $1,022,000 after acquiring an additional 292 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Employers during the second quarter worth approximately $1,522,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

Employers Stock Up 0.3 %

NYSE:EIG opened at $48.19 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of 10.21 and a beta of 0.24. Employers Holdings, Inc. has a fifty-two week low of $36.65 and a fifty-two week high of $49.30. The firm’s 50 day moving average is $47.23 and its two-hundred day moving average is $44.66.

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

Employers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, August 14th. Employers’s dividend payout ratio is presently 25.42%.

Wall Street Analysts Forecast Growth

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

Employers Company 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.