Employers Holdings Inc $EIG Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Employers Holdings Inc by 28.4%, owning approximately 314,325 shares valued at $15.92 million after selling 124,635 shares in the first quarter.
• Employers reported $0.48 earnings per share for the quarter, missing estimates, although revenue was strong at $246.30 million, exceeding expectations of $217.17 million.
• The company declared a quarterly dividend of $0.32 per share, with an annualized yield of 2.9%, to be paid on August 27th.

Invesco Ltd. reduced its stake in Employers Holdings Inc (NYSE:EIG - Free Report) by 28.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 314,325 shares of the financial services provider's stock after selling 124,635 shares during the quarter. Invesco Ltd. owned about 1.31% of Employers worth $15,917,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Employers by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,938,058 shares of the financial services provider's stock valued at $148,783,000 after buying an additional 19,637 shares in the last quarter. LSV Asset Management raised its position in Employers by 7.1% in the first quarter. LSV Asset Management now owns 1,067,976 shares of the financial services provider's stock valued at $54,082,000 after purchasing an additional 70,402 shares during the period. Northern Trust Corp boosted its position in shares of Employers by 0.7% during the fourth quarter. Northern Trust Corp now owns 506,140 shares of the financial services provider's stock worth $25,930,000 after buying an additional 3,364 shares during the period. Principal Financial Group Inc. boosted its position 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 worth $6,233,000 after buying an additional 3,226 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Employers by 5,792.9% in the first quarter. GAMMA Investing LLC now owns 108,724 shares of the financial services provider's stock valued at $5,506,000 after acquiring an additional 106,879 shares in the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Employers Trading Down 1.1%

EIG traded down $0.49 during midday trading on Thursday, hitting $42.85. The company's stock had a trading volume of 10,378 shares, compared to its average volume of 168,554. The firm has a 50-day moving average price of $44.68 and a two-hundred day moving average price of $47.44. Employers Holdings Inc has a 52-week low of $38.19 and a 52-week high of $54.44. The firm has a market cap of $1.01 billion, a P/E ratio of 10.44 and a beta of 0.52.

Employers (NYSE:EIG - Get Free Report) last released its 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 company had revenue of $246.30 million during the quarter, compared to analyst estimates of $217.17 million. During the same period in the prior year, the business posted $1.10 earnings per share. Employers's revenue was up 13.5% on a year-over-year basis. On average, equities analysts expect that Employers Holdings Inc will post 3.63 EPS for the current year.

Employers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Wednesday, August 13th. Employers's dividend payout ratio is 31.22%.

About Employers

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.