Cubist Systematic Strategies LLC Has $520,000 Position in Employers Holdings Inc $EIG

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Employers Holdings Inc by 53.7%, now owning 10,261 shares valued at approximately $520,000.
• Employers Holdings recently announced a quarterly dividend of $0.32, resulting in an annualized dividend yield of 3.1%.
• Analysts have downgraded Employers Holdings from a "hold" to a "sell" rating, despite a consensus rating of "buy" and a target price of $58.00.

Cubist Systematic Strategies LLC lowered its position in Employers Holdings Inc (NYSE:EIG - Free Report) by 53.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,261 shares of the financial services provider's stock after selling 11,890 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Employers were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Employers in the 4th quarter valued at approximately $48,000. GAMMA Investing LLC raised its position in Employers by 16.4% during the first quarter. GAMMA Investing LLC now owns 2,147 shares of the financial services provider's stock valued at $109,000 after acquiring an additional 302 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Employers in the fourth quarter valued at approximately $137,000. PNC Financial Services Group Inc. grew its position 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 acquiring an additional 215 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Employers during the 1st quarter worth $294,000. 80.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Employers from a "hold" rating to a "sell" rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Employers currently has an average rating of "Buy" and an average target price of $58.00.

Employers Price Performance

NYSE:EIG traded up $0.13 during midday trading on Tuesday, reaching $41.42. The stock had a trading volume of 213,804 shares, compared to its average volume of 154,114. The stock has a market capitalization of $973.78 million, a P/E ratio of 10.10 and a beta of 0.53. Employers Holdings Inc has a 1-year low of $38.19 and a 1-year high of $54.44. The firm's fifty day simple moving average is $43.39 and its 200-day simple moving average is $46.73.

Employers (NYSE:EIG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $217.17 million. During the same quarter last year, the company earned $1.10 earnings per share. The firm's revenue was up 13.5% on a year-over-year basis. On average, equities research 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 given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, August 13th. 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.