Employers Holdings Inc (NYSE:EIG) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has reduced its stake in Employers Holdings Inc by 27.6%, now owning approximately 0.20% of the company valued at about $2.4 million.
• Employers recently announced a $0.32 per share quarterly dividend with an annualized yield of 3.1%, following a net revenue increase of 13.5% year-over-year.
• Employers Holdings stock saw a 2.7% increase recently, trading at $41.82, but reported an earnings per share miss of ($0.46) against consensus estimates in its latest quarterly results.

Federated Hermes Inc. decreased its position in Employers Holdings Inc (NYSE:EIG - Free Report) by 27.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,839 shares of the financial services provider's stock after selling 18,239 shares during the quarter. Federated Hermes Inc. owned 0.20% of Employers worth $2,423,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in EIG. GAMMA Investing LLC grew 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Employers by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,041 shares of the financial services provider's stock valued at $719,000 after buying an additional 518 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of Employers in the fourth quarter worth $29,000. Sterling Capital Management LLC increased its position in shares of Employers by 8.0% during the fourth quarter. Sterling Capital Management LLC now owns 9,635 shares of the financial services provider's stock worth $494,000 after acquiring an additional 710 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Employers by 7.9% in the first quarter. Victory Capital Management Inc. now owns 10,366 shares of the financial services provider's stock valued at $525,000 after acquiring an additional 760 shares in the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.

Employers Price Performance

Shares of Employers stock traded up $0.01 on Friday, reaching $41.18. 219,029 shares of the company were exchanged, compared to its average volume of 215,154. The stock's 50 day moving average price is $45.92 and its 200-day moving average price is $48.06. The company has a market cap of $968.02 million, a P/E ratio of 10.04 and a beta of 0.52. Employers Holdings Inc has a 1-year low of $38.19 and a 1-year high of $54.44.

Employers (NYSE:EIG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.48 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 during the quarter, compared to analysts' expectations of $217.17 million. During the same period in the prior year, the company posted $1.10 earnings per share. The company's revenue for the quarter was up 13.5% on a year-over-year basis. On average, research analysts predict that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $1.28 dividend on an annualized basis and a yield of 3.1%. Employers's dividend payout ratio (DPR) is currently 31.22%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Employers from a "hold" rating to a "sell" rating in a research note on Saturday.

Insiders Place Their Bets

In other news, EVP John M. Mutschink sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $49.12, for a total transaction of $98,240.00. Following the completion of the transaction, the executive vice president directly owned 19,789 shares of the company's stock, valued at approximately $972,035.68. This represents a 9.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.

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.