Cubist Systematic Strategies LLC Sells 44,878 Shares of Employers Holdings, Inc. (NYSE:EIG)

Cubist Systematic Strategies LLC reduced its stake in Employers Holdings, Inc. (NYSE:EIG) by 96.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,520 shares of the financial services provider’s stock after selling 44,878 shares during the period. Cubist Systematic Strategies LLC’s holdings in Employers were worth $65,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Isthmus Partners LLC lifted its holdings in Employers by 0.5% during the second quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 375 shares in the last quarter. Lazard Asset Management LLC bought a new position in Employers during the first quarter worth about $36,000. Bessemer Group Inc. lifted its holdings in Employers by 983.8% during the first quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 1,033 shares in the last quarter. Innealta Capital LLC bought a new position in Employers during the second quarter worth about $81,000. Finally, Mutual of America Capital Management LLC bought a new position in Employers during the first quarter worth about $201,000. 80.49% of the stock is currently owned by institutional investors.

Employers Stock Up 1.7 %

Shares of NYSE EIG opened at $49.47 on Thursday. The business’s 50 day moving average price is $47.42 and its two-hundred day moving average price is $44.74. The company has a market cap of $1.25 billion, a PE ratio of 10.48 and a beta of 0.24. Employers Holdings, Inc. has a twelve month low of $36.65 and a twelve month high of $49.62.

Employers (NYSE:EIG) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $223.82 million. During the same quarter in the previous year, the company posted $1.17 earnings per share. The business’s revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that Employers Holdings, Inc. will post 3.63 EPS for the current fiscal year.

Employers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Wednesday, August 14th. Employers’s dividend payout ratio (DPR) is currently 25.42%.

Wall Street Analysts Forecast Growth

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

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.