Bank of New York Mellon Corp Has $12.27 Million Stock Position in Employers Holdings Inc (NYSE:EIG)

Bank of New York Mellon Corp cut its position in shares of Employers Holdings Inc (NYSE:EIG - Free Report) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,197 shares of the financial services provider's stock after selling 8,535 shares during the quarter. Bank of New York Mellon Corp owned 1.00% of Employers worth $12,265,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new position in shares of Employers in the fourth quarter valued at approximately $29,000. Lazard Asset Management LLC acquired a new stake in shares of Employers in the fourth quarter valued at approximately $48,000. GAMMA Investing LLC increased its holdings 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 valued at $109,000 after purchasing an additional 302 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Employers by 10.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,680 shares of the financial services provider's stock valued at $137,000 after purchasing an additional 262 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Employers in the fourth quarter valued at approximately $137,000. 80.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Employers news, EVP John M. Mutschink sold 2,000 shares of Employers stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $49.12, for a total transaction of $98,240.00. Following the completion of the sale, the executive vice president owned 19,789 shares of the company's stock, valued at approximately $972,035.68. The trade was a 9.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Pedraja bought 3,050 shares of the stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $48.59 per share, with a total value of $148,199.50. Following the acquisition, the executive vice president directly owned 7,330 shares in the company, valued at approximately $356,164.70. This trade represents a 71.26% increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

Employers Trading Down 1.4%

Shares of Employers stock traded down $0.64 during midday trading on Thursday, reaching $45.46. The company had a trading volume of 160,934 shares, compared to its average volume of 157,699. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.03 and a beta of 0.54. The stock has a fifty day simple moving average of $47.33 and a 200 day simple moving average of $48.56. Employers Holdings Inc has a 1-year low of $44.89 and a 1-year high of $54.44.

Employers (NYSE:EIG - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $202.60 million during the quarter, compared to analyst estimates of $216.81 million. Employers had a net margin of 11.99% and a return on equity of 9.21%. Employers's revenue for the quarter 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. Sell-side analysts expect that Employers Holdings Inc will post 3.63 earnings per share for the current year.

Employers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Wednesday, May 14th. This is a positive change from Employers's previous quarterly dividend of $0.30. Employers's payout ratio is currently 31.07%.

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.