Hotchkis & Wiley Capital Management LLC Lowers Stock Position in Employers Holdings Inc $EIG

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in Employers Holdings Inc by 30.1%, selling 85,670 shares and now holding approximately 198,705 shares valued at about $10 million.
• Employers Holdings reported earnings per share (EPS) of $0.48 for the last quarter, missing estimates by $0.46, despite a 13.5% increase in revenue year-over-year.
• The firm announced a quarterly dividend of $0.32 per share, with a scheduled payment date on August 27th, representing a dividend yield of 2.9%.

Hotchkis & Wiley Capital Management LLC decreased its holdings in shares of Employers Holdings Inc (NYSE:EIG - Free Report) by 30.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,705 shares of the financial services provider's stock after selling 85,670 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.83% of Employers worth $10,062,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in shares of 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 valued at $147,000 after buying an additional 215 shares in the last quarter. Martingale Asset Management L P lifted its holdings in Employers by 1.0% in the first quarter. Martingale Asset Management L P now owns 31,750 shares of the financial services provider's stock valued at $1,608,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC boosted its position in shares of Employers by 16.4% during the 1st 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Employers by 3.8% during the 4th 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 period. Finally, Aquatic Capital Management LLC acquired a new position in shares of Employers during the 4th quarter worth $29,000. 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 the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $49.12, for a total value of $98,240.00. Following the sale, the executive vice president directly owned 19,789 shares in the company, valued at $972,035.68. This represents a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Employers Stock Performance

EIG opened at $43.7270 on Monday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 10.67 and a beta of 0.52. Employers Holdings Inc has a one year low of $38.19 and a one year high of $54.44. The business's fifty day moving average is $44.88 and its two-hundred day moving average is $47.54.

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 the consensus estimate of $0.94 by ($0.46). Employers had a return on equity of 7.56% and a net margin of 11.37%.The firm had revenue of $246.30 million for the quarter, compared to analyst estimates of $217.17 million. During the same period last year, the firm earned $1.10 EPS. The company's quarterly revenue was up 13.5% compared to the same quarter last year. On average, analysts predict that Employers Holdings Inc will post 3.63 EPS for the current fiscal year.

Employers Dividend Announcement

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 issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, August 13th. Employers's dividend payout ratio is 31.22%.

Wall Street Analyst Weigh In

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

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.

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