Nuveen LLC Acquires Shares of 193,792 Employers Holdings Inc $EIG

Key Points

• Nuveen LLC acquired 193,792 shares of Employers Holdings Inc, worth approximately $9.8 million, increasing its ownership to 0.81% of the company.
• Employers Holdings reported an EPS of $0.48 for the last quarter, missing estimates significantly, yet its revenue increased by 13.5% year-over-year.
• The company declared a quarterly dividend of $0.32 per share, with a yield of 2.9%, payable on August 27th to shareholders of record on August 13th.

Nuveen LLC acquired a new position in shares of Employers Holdings Inc (NYSE:EIG - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 193,792 shares of the financial services provider's stock, valued at approximately $9,814,000. Nuveen LLC owned about 0.81% of Employers at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EIG. Aquatic Capital Management LLC bought a new position in Employers during the 4th quarter worth $29,000. Lazard Asset Management LLC bought a new position in shares of Employers in the fourth quarter worth $48,000. GAMMA Investing LLC grew its stake in shares of Employers by 16.4% in the first quarter. GAMMA Investing LLC now owns 2,147 shares of the financial services provider's stock worth $109,000 after purchasing an additional 302 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Employers in the fourth quarter worth $137,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Employers by 8.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,895 shares of the financial services provider's stock worth $147,000 after purchasing an additional 215 shares in the last quarter. 80.49% of the stock is currently owned by institutional investors.

Employers Stock Down 1.2%

Shares of NYSE EIG traded down $0.51 during mid-day trading on Thursday, hitting $42.83. 14,808 shares of the company traded hands, compared to its average volume of 168,575. Employers Holdings Inc has a 1 year low of $38.19 and a 1 year high of $54.44. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 10.44 and a beta of 0.52. The business has a 50 day moving average of $44.68 and a two-hundred day moving average of $47.44.

Employers (NYSE:EIG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.46). Employers had a return on equity of 7.56% and a net margin of 11.37%.The business had revenue of $246.30 million during the quarter, compared to analysts' expectations of $217.17 million. During the same period in the prior year, the company posted $1.10 earnings per share. The firm's revenue was up 13.5% on a year-over-year basis. As a group, research analysts anticipate that Employers Holdings Inc will post 3.63 EPS for the current year.

Employers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. Employers's dividend payout ratio (DPR) is 31.22%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Employers from a "hold" rating to a "sell" rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Employers presently has a consensus rating of "Buy" and a consensus price target of $58.00.

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.