LSV Asset Management Boosts Stake in Employers Holdings Inc (NYSE:EIG)

Key Points

• LSV Asset Management increased its stake in Employers Holdings Inc by 7.1%, owning 1,067,976 shares valued at approximately $54.08 million.
• Employers reported a miss in quarterly earnings, posting $0.48 EPS compared to the consensus estimate of $0.94, despite revenue rising 13.5% year-over-year.
• The company declared a quarterly dividend of $0.32 per share, reflecting an annualized dividend of $1.28 and a dividend yield of 3.3%.

LSV Asset Management lifted its holdings in shares of Employers Holdings Inc (NYSE:EIG - Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,067,976 shares of the financial services provider's stock after acquiring an additional 70,402 shares during the quarter. LSV Asset Management owned 4.40% of Employers worth $54,082,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aquatic Capital Management LLC bought a new stake in Employers in the fourth quarter valued at about $29,000. Lazard Asset Management LLC bought a new stake in Employers during the fourth quarter worth 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 buying an additional 302 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Employers in the fourth quarter valued at $137,000. Finally, Jump Financial LLC acquired a new stake in Employers during the 4th quarter valued at $230,000. 80.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Employers

In other 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 transaction, the executive vice president directly owned 19,789 shares of the company's stock, valued at $972,035.68. This trade represents a 9.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Pedraja acquired 3,050 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $48.59 per share, for a total transaction of $148,199.50. Following the completion of the acquisition, the executive vice president owned 7,330 shares of the company's stock, valued at $356,164.70. This trade represents a 71.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.

Employers Trading Down 5.5%

NYSE:EIG traded down $2.29 during trading hours on Friday, hitting $38.99. 472,258 shares of the stock traded hands, compared to its average volume of 189,922. The firm has a 50 day moving average price of $46.71 and a 200 day moving average price of $48.34. Employers Holdings Inc has a fifty-two week low of $38.19 and a fifty-two week high of $54.44. The firm has a market cap of $937.39 million, a price-to-earnings ratio of 9.51 and a beta of 0.52.

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). The firm had revenue of $246.30 million for the quarter, compared to the consensus estimate 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 quarter last year, the company earned $1.10 earnings per share. Research analysts predict that Employers Holdings Inc will post 3.63 EPS for the current year.

Employers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is 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.