Cubist Systematic Strategies LLC Makes New Investment in Employers Holdings, Inc. (NYSE:EIG)

Cubist Systematic Strategies LLC purchased a new position in Employers Holdings, Inc. (NYSE:EIG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,151 shares of the financial services provider's stock, valued at approximately $1,135,000. Cubist Systematic Strategies LLC owned approximately 0.09% of Employers as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of EIG. Norges Bank purchased a new position in shares of Employers during the fourth quarter valued at about $8,935,000. Raymond James Financial Inc. purchased a new position in shares of Employers during the fourth quarter valued at about $7,451,000. JPMorgan Chase & Co. grew its position in shares of Employers by 158.7% during the fourth quarter. JPMorgan Chase & Co. now owns 205,698 shares of the financial services provider's stock valued at $10,538,000 after purchasing an additional 126,186 shares in the last quarter. American Century Companies Inc. grew its position in shares of Employers by 9.5% during the fourth quarter. American Century Companies Inc. now owns 565,154 shares of the financial services provider's stock valued at $28,953,000 after purchasing an additional 48,844 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Employers during the fourth quarter valued at about $2,451,000. Hedge funds and other institutional investors own 80.49% of the company's stock.

Employers Price Performance

Shares of Employers stock traded up $0.41 during trading on Friday, reaching $49.69. 135,867 shares of the stock traded hands, compared to its average volume of 138,140. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.55 and a beta of 0.56. The business has a fifty day simple moving average of $48.98 and a two-hundred day simple moving average of $50.10. Employers Holdings, Inc. has a 52-week low of $40.57 and a 52-week high of $54.44.

Employers (NYSE:EIG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.18. The firm had revenue of $202.60 million during the quarter, compared to analyst estimates of $216.81 million. Employers had a return on equity of 8.99% and a net margin of 13.47%. The business's quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 earnings per share. On average, research analysts predict that Employers Holdings, Inc. will post 3.63 earnings per share for the current fiscal year.

Employers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.32 per share. This is a positive change from Employers's previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, May 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.58%. Employers's dividend payout ratio (DPR) is presently 31.07%.

Insider Buying and Selling

In related news, Director James R. Kroner sold 2,000 shares of Employers stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $50.90, for a total value of $101,800.00. Following the completion of the transaction, the director now owns 25,458 shares in the company, valued at approximately $1,295,812.20. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Pedraja purchased 3,050 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $48.59 per share, with a total value of $148,199.50. Following the transaction, the executive vice president now owns 7,330 shares of the company's stock, valued at $356,164.70. This represents a 71.26% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 5,385 shares of company stock worth $276,267. Corporate insiders own 1.40% of the company's stock.

Employers Profile

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.