AlphaQuest LLC Boosts Stake in Employers Holdings Inc $EIG

Key Points

• AlphaQuest LLC increased its stake in Employers Holdings Inc by 136.2% in the first quarter, owning approximately 0.10% of the company worth $1.17 million after purchasing an additional 13,287 shares.
• Employers reported $0.48 earnings per share for the last quarter, missing the consensus estimate of $0.94, despite a year-over-year revenue increase of 13.5% to $246.30 million.
• The company declared a $0.32 quarterly dividend, with an annualized dividend yield of 2.9%, set to be paid on August 27th to stockholders of record on August 13th.

AlphaQuest LLC grew its holdings in Employers Holdings Inc (NYSE:EIG - Free Report) by 136.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,044 shares of the financial services provider's stock after purchasing an additional 13,287 shares during the quarter. AlphaQuest LLC owned approximately 0.10% of Employers worth $1,167,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of Employers by 8.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,895 shares of the financial services provider's stock worth $147,000 after acquiring an additional 215 shares in the last quarter. Martingale Asset Management L P raised its stake in shares of Employers by 1.0% during the 1st quarter. Martingale Asset Management L P now owns 31,750 shares of the financial services provider's stock worth $1,608,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Employers by 16.4% during the 1st quarter. GAMMA Investing LLC now owns 2,147 shares of the financial services provider's stock worth $109,000 after acquiring an additional 302 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Employers by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,041 shares of the financial services provider's stock worth $719,000 after acquiring an additional 518 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Employers during the 4th quarter worth approximately $29,000. Institutional investors own 80.49% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of 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, the stock presently has an average rating of "Buy" and a consensus target price of $58.00.

Employers Trading Down 0.8%

Shares of EIG stock traded down $0.36 during trading hours on Thursday, hitting $42.99. The company's stock had a trading volume of 168,320 shares, compared to its average volume of 168,945. The company has a 50 day moving average of $44.68 and a 200 day moving average of $47.44. The stock has a market cap of $1.01 billion, a PE ratio of 10.48 and a beta of 0.52. Employers Holdings Inc has a 12-month low of $38.19 and a 12-month high of $54.44.

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

Employers Dividend Announcement

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

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.