Employers Holdings Inc. (EIG) Shares Down 7.5%
Employers Holdings Inc. (NYSE:EIG) shares dropped 7.5% during mid-day trading on Thursday . The company traded as low as $29.19 and last traded at $29.56, with a volume of 305,004 shares. The stock had previously closed at $31.97.
Separately, Zacks Investment Research cut shares of Employers Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th.
The company has a market capitalization of $925.84 million and a price-to-earnings ratio of 9.48. The stock has a 50-day moving average price of $29.67 and a 200-day moving average price of $28.09.
Employers Holdings (NYSE:EIG) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $201.80 million for the quarter, compared to analyst estimates of $197.92 million. Equities analysts expect that Employers Holdings Inc. will post $2.20 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, August 8th.
In related news, EVP Ann W. Nelson sold 10,002 shares of Employers Holdings stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $30.00, for a total value of $300,060.00. Following the completion of the transaction, the executive vice president now owns 52,204 shares in the company, valued at $1,566,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lenard T. Ormsby sold 16,482 shares of Employers Holdings stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $30.17, for a total transaction of $497,261.94. Following the completion of the transaction, the executive vice president now owns 35,288 shares of the company’s stock, valued at approximately $1,064,638.96. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have made changes to their positions in the stock. Bailard Inc. acquired a new position in shares of Employers Holdings during the fourth quarter worth $1,567,000. Wells Fargo & Company MN boosted its position in shares of Employers Holdings by 9.0% in the fourth quarter. Wells Fargo & Company MN now owns 675,510 shares of the company’s stock worth $18,442,000 after buying an additional 55,524 shares during the period. Bank of Montreal Can boosted its position in shares of Employers Holdings by 45.8% in the fourth quarter. Bank of Montreal Can now owns 129,717 shares of the company’s stock worth $3,540,000 after buying an additional 40,730 shares during the period. Rhumbline Advisers boosted its position in shares of Employers Holdings by 2.9% in the fourth quarter. Rhumbline Advisers now owns 73,336 shares of the company’s stock worth $2,002,000 after buying an additional 2,055 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Employers Holdings by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 59,147 shares of the company’s stock worth $1,615,000 after buying an additional 1,100 shares during the period.
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. The Company 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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