Charles Schwab Investment Management Inc. Trims Stake in Employers Holdings Inc $EIG

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Employers Holdings Inc. to 413,672 shares, now worth approximately $20.95 million.
• Employers Holdings reported a loss of $0.46 earnings per share in its most recent quarter, missing the consensus estimate of $0.94.
• The company declared a quarterly dividend of $0.32, with an annualized yield of 3.0%, set to be paid on August 27th.

Charles Schwab Investment Management Inc. cut its holdings in Employers Holdings Inc (NYSE:EIG - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 413,672 shares of the financial services provider's stock after selling 9,591 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.71% of Employers worth $20,948,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its stake in 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 during the last quarter. GAMMA Investing LLC lifted its stake in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Employers by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,041 shares of the financial services provider's stock worth $719,000 after purchasing an additional 518 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Employers in the fourth quarter worth $29,000. Finally, Victory Capital Management Inc. lifted its stake in Employers by 7.9% in the first quarter. Victory Capital Management Inc. now owns 10,366 shares of the financial services provider's stock worth $525,000 after purchasing an additional 760 shares during the last quarter. 80.49% of the stock is owned by institutional investors.

Employers Stock Performance

Shares of NYSE EIG traded up $0.38 during midday trading on Wednesday, hitting $43.38. 143,838 shares of the company traded hands, compared to its average volume of 238,875. Employers Holdings Inc has a 12-month low of $38.19 and a 12-month high of $54.44. The stock has a 50-day moving average price of $44.68 and a 200 day moving average price of $47.44. The firm has a market cap of $1.02 billion, a P/E ratio of 10.58 and a beta of 0.52.

Employers (NYSE:EIG - Get Free Report) last announced its quarterly earnings results 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 net margin of 11.37% and a return on equity of 7.56%. The company had revenue of $246.30 million for the quarter, compared to analysts' expectations of $217.17 million. During the same quarter in the prior year, the firm earned $1.10 EPS. Employers's quarterly revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts expect that Employers Holdings Inc will post 3.63 earnings per share for the current year.

Employers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, August 13th. This represents a $1.28 annualized dividend and a dividend yield of 3.0%. Employers's payout ratio is currently 31.22%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Employers from a "hold" rating to a "sell" rating in a research note on Monday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $58.00.

Employers Company 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.