Credit Suisse AG Cuts Position in Employers Holdings Inc (EIG)
Credit Suisse AG cut its position in shares of Employers Holdings Inc (NYSE:EIG) by 14.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,168 shares of the financial services provider’s stock after selling 5,480 shares during the period. Credit Suisse AG’s holdings in Employers Holdings were worth $1,221,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Stevens Capital Management LP acquired a new stake in shares of Employers Holdings during the first quarter worth about $428,000. State of Tennessee Treasury Department boosted its stake in shares of Employers Holdings by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 29,672 shares of the financial services provider’s stock worth $1,126,000 after buying an additional 4,478 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Employers Holdings by 1.0% in the first quarter. Parametric Portfolio Associates LLC now owns 123,864 shares of the financial services provider’s stock worth $4,701,000 after buying an additional 1,189 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Employers Holdings during the first quarter worth about $539,000. Finally, Ramsey Quantitative Systems acquired a new stake in shares of Employers Holdings during the first quarter worth about $525,000. 77.36% of the stock is owned by institutional investors.
Shares of Employers Holdings Inc (NYSE:EIG) traded down 0.94% during midday trading on Friday, reaching $42.15. 21,828 shares of the company’s stock traded hands. Employers Holdings Inc has a one year low of $28.34 and a one year high of $44.55. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 13.05 and a beta of 1.09. The company has a 50-day moving average of $42.94 and a 200-day moving average of $39.98.
Employers Holdings (NYSE:EIG) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.55 by $0.05. The company had revenue of $191.10 million during the quarter, compared to analyst estimates of $194.78 million. Employers Holdings had a net margin of 13.72% and a return on equity of 10.25%. Equities research analysts anticipate that Employers Holdings Inc will post $2.30 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, August 7th. Employers Holdings’s payout ratio is 18.63%.
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Several brokerages have weighed in on EIG. Zacks Investment Research raised shares of Employers Holdings from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Monday, July 31st. BidaskClub cut shares of Employers Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, ValuEngine raised shares of Employers Holdings from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.
In other Employers Holdings news, CEO Douglas D. Dirks sold 83,890 shares of Employers Holdings stock in a transaction on Monday, June 12th. The shares were sold at an average price of $41.93, for a total transaction of $3,517,507.70. Following the completion of the transaction, the chief executive officer now directly owns 409,535 shares of the company’s stock, valued at $17,171,802.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is owned by insiders.
About Employers Holdings
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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