Federated Hermes Inc. Decreases Position in Employers Holdings Inc (NYSE:EIG)

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. cut its position in Employers Holdings Inc (NYSE:EIG - Free Report) by 27.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

Several other large investors have also made changes to their positions in the company. Legato Capital Management LLC grew its holdings in shares of Employers by 22.4% during the first quarter. Legato Capital Management LLC now owns 29,863 shares of the financial services provider's stock worth $1,512,000 after purchasing an additional 5,474 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Employers during the 1st quarter worth approximately $861,000. Victory Capital Management Inc. increased its position in Employers by 7.9% in the 1st 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 during the period. Cerity Partners LLC bought a new position in shares of Employers during the first quarter valued at $671,000. Finally, Principal Financial Group Inc. raised its stake in shares of Employers by 2.7% during the first quarter. Principal Financial Group Inc. now owns 123,075 shares of the financial services provider's stock valued at $6,233,000 after acquiring an additional 3,226 shares during the last quarter. Institutional investors and hedge funds own 80.49% of the company's stock.

Employers Price Performance

NYSE EIG traded down $0.63 on Thursday, reaching $41.16. The company had a trading volume of 253,775 shares, compared to its average volume of 167,907. The firm has a market cap of $967.65 million, a price-to-earnings ratio of 10.04 and a beta of 0.52. Employers Holdings Inc has a fifty-two week low of $38.19 and a fifty-two week high of $54.44. The business has a 50 day moving average of $46.07 and a two-hundred day moving average of $48.12.

Employers (NYSE:EIG - Get Free Report) last posted 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). The company had revenue of $246.30 million during the quarter, compared to analyst estimates of $217.17 million. Employers had a return on equity of 7.56% and a net margin of 11.37%. Employers's revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. As a group, research analysts predict that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Dividend Announcement

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

Insider Buying and Selling

In related news, EVP John M. Mutschink sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 approximately $972,035.68. This represents a 9.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is 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.