Smith Asset Management Group LP reduced its position in Employers Holdings, Inc. (NYSE:EIG) by 23.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,600 shares of the financial services provider’s stock after selling 4,860 shares during the quarter. Smith Asset Management Group LP’s holdings in Employers were worth $693,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp bought a new position in Employers in the 2nd quarter valued at about $214,000. Unison Advisors LLC acquired a new stake in shares of Employers in the 4th quarter valued at approximately $305,000. Citadel Advisors LLC acquired a new stake in shares of Employers in the 4th quarter valued at approximately $319,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Employers in the 3rd quarter valued at approximately $374,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Employers in the 3rd quarter valued at approximately $399,000. 77.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Employers Holdings, Inc. (NYSE EIG) opened at $40.50 on Monday. Employers Holdings, Inc. has a one year low of $35.90 and a one year high of $50.45. The firm has a market cap of $1,313.44, a P/E ratio of 13.28 and a beta of 1.05.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be paid a $0.20 dividend. This is an increase from Employers’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, March 6th. Employers’s dividend payout ratio (DPR) is presently 19.67%.
In related news, EVP John P. Nelson sold 12,000 shares of Employers stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $46.79, for a total transaction of $561,480.00. Following the sale, the executive vice president now directly owns 25,977 shares in the company, valued at approximately $1,215,463.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas D. Dirks sold 58,300 shares of Employers stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $49.55, for a total transaction of $2,888,765.00. Following the sale, the chief executive officer now owns 331,145 shares in the company, valued at $16,408,234.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,204 shares of company stock worth $4,381,909. 3.50% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Employers from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd. Zacks Investment Research upgraded shares of Employers from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.00.
Employers Company Profile
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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