Rhumbline Advisers Sells 3,501 Shares of Employers Holdings, Inc. (NYSE:EIG)

Rhumbline Advisers lessened its holdings in shares of Employers Holdings, Inc. (NYSE:EIG) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,909 shares of the financial services provider’s stock after selling 3,501 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of Employers worth $3,735,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EIG. Versant Capital Management Inc grew its stake in Employers by 50.1% in the fourth quarter. Versant Capital Management Inc now owns 596 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 199 shares during the period. FMR LLC grew its stake in Employers by 15.2% in the third quarter. FMR LLC now owns 1,520 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC grew its stake in Employers by 61.1% in the fourth quarter. GAMMA Investing LLC now owns 1,845 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 700 shares during the period. Verition Fund Management LLC purchased a new stake in Employers in the third quarter worth $291,000. Finally, MML Investors Services LLC grew its stake in Employers by 27.0% in the third quarter. MML Investors Services LLC now owns 6,806 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 1,448 shares during the period. Institutional investors own 80.49% of the company’s stock.

Insider Buying and Selling

In related news, insider Ann Marie Smith sold 1,385 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $51.24, for a total transaction of $70,967.40. Following the completion of the sale, the insider now directly owns 8,801 shares of the company’s stock, valued at approximately $450,963.24. This trade represents a 13.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Kroner sold 1,000 shares of Employers stock in a transaction on Friday, February 28th. The shares were sold at an average price of $51.50, for a total value of $51,500.00. Following the sale, the director now directly owns 23,458 shares of the company’s stock, valued at approximately $1,208,087. This trade represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,385 shares of company stock valued at $224,267. Insiders own 1.50% of the company’s stock.

Employers Trading Up 1.2 %

Shares of EIG opened at $51.77 on Friday. The business’s 50 day moving average is $49.67 and its 200 day moving average is $49.51. The company has a market capitalization of $1.28 billion, a PE ratio of 10.99 and a beta of 0.27. Employers Holdings, Inc. has a 12-month low of $38.67 and a 12-month high of $54.44.

Employers (NYSE:EIG) last issued its earnings results on Thursday, February 20th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.07. The company had revenue of $216.60 million for the quarter, compared to the consensus estimate of $221.18 million. Employers had a return on equity of 8.99% and a net margin of 13.47%. Equities research analysts predict that Employers Holdings, Inc. will post 3.63 earnings per share for the current year.

Employers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, March 5th. Employers’s dividend payout ratio (DPR) is 25.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial increased their target price on Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com downgraded Employers from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

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.