American Century Companies Inc. Boosts Position in Employers Holdings Inc $EIG

Key Points

• American Century Companies Inc. increased its stake in Employers Holdings Inc by 8.3%, acquiring an additional 46,793 shares, bringing their total ownership to 611,947 shares valued at approximately $30.99 million.
• Employers Holdings reported missed estimates with earnings per share of $0.48 for the last quarter, while revenue rose by 13.5% year-over-year, totaling $246.3 million.
• The firm also announced a quarterly dividend of $0.32 per share, resulting in an annual yield of 3.0% for investors, with the dividend payout ratio currently at 31.22%.

American Century Companies Inc. raised its holdings in shares of Employers Holdings Inc (NYSE:EIG - Free Report) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 611,947 shares of the financial services provider's stock after purchasing an additional 46,793 shares during the quarter. American Century Companies Inc. owned 2.55% of Employers worth $30,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of EIG. Wells Fargo & Company MN lifted its position in Employers by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 14,513 shares of the financial services provider's stock valued at $743,000 after purchasing an additional 3,159 shares during the last quarter. Bank of Montreal Can bought a new position in Employers during the fourth quarter valued at $244,000. Raymond James Financial Inc. bought a new position in Employers during the fourth quarter valued at $7,451,000. Barclays PLC lifted its position in Employers by 4.7% during the fourth quarter. Barclays PLC now owns 43,459 shares of the financial services provider's stock valued at $2,227,000 after purchasing an additional 1,958 shares during the last quarter. Finally, Mariner LLC lifted its position in Employers by 18.4% during the fourth quarter. Mariner LLC now owns 11,208 shares of the financial services provider's stock valued at $574,000 after purchasing an additional 1,743 shares during the last quarter. 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 report on Monday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $58.00.

Employers Price Performance

Shares of EIG traded up $0.38 during midday trading on Wednesday, hitting $43.38. The stock had a trading volume of 143,838 shares, compared to its average volume of 238,875. Employers Holdings Inc has a 1 year low of $38.19 and a 1 year high of $54.44. The firm has a market cap of $1.02 billion, a PE ratio of 10.58 and a beta of 0.52. The stock's 50 day moving average is $44.68 and its 200 day moving average is $47.44.

Employers (NYSE:EIG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.46). Employers had a net margin of 11.37% and a return on equity of 7.56%. The firm 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 EPS. The company's revenue was up 13.5% compared to the same quarter last year. As a group, equities research analysts expect that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.28 annualized dividend and a dividend yield of 3.0%. Employers's dividend payout ratio is currently 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.