Legato Capital Management LLC Acquires 24,053 Shares of Employers Holdings Inc $EIG

Key Points

• Legato Capital Management increased its stake in Employers Holdings by 230.7% in the fourth quarter, buying 24,053 additional shares and bringing its total position to 34,479 shares worth about $1.49 million.
• Employers reported quarterly EPS of $0.53, missing estimates, while revenue came in at $207.6 million versus expectations of $213.0 million. Analysts still expect the company to earn 2.22 EPS for the full year.
• The company raised its quarterly dividend to $0.34 per share from $0.32, which annualizes to $1.36 and yields about 3.1% based on the current share price.

Legato Capital Management LLC grew its holdings in Employers Holdings Inc (NYSE:EIG - Free Report) by 230.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,479 shares of the financial services provider's stock after acquiring an additional 24,053 shares during the period. Legato Capital Management LLC owned 0.15% of Employers worth $1,488,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EIG. Qube Research & Technologies Ltd grew its position in Employers by 93.1% in the second quarter. Qube Research & Technologies Ltd now owns 264,078 shares of the financial services provider's stock worth $12,459,000 after acquiring an additional 127,330 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Employers by 326.5% in the third quarter. Bridgeway Capital Management LLC now owns 141,611 shares of the financial services provider's stock worth $6,016,000 after acquiring an additional 108,411 shares in the last quarter. UBS Group AG grew its position in Employers by 125.0% in the third quarter. UBS Group AG now owns 181,341 shares of the financial services provider's stock worth $7,703,000 after acquiring an additional 100,751 shares in the last quarter. Two Sigma Investments LP grew its position in Employers by 62.4% in the third quarter. Two Sigma Investments LP now owns 181,591 shares of the financial services provider's stock worth $7,714,000 after acquiring an additional 69,741 shares in the last quarter. Finally, Azarias Capital Management L.P. bought a new stake in Employers in the fourth quarter worth approximately $2,983,000. 80.49% of the stock is owned by institutional investors.

Employers Price Performance

NYSE EIG opened at $43.92 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $41.57 and a 200 day simple moving average of $41.77. The company has a market cap of $801.01 million, a P/E ratio of 133.08 and a beta of 0.48. Employers Holdings Inc has a 1 year low of $35.73 and a 1 year high of $49.39.

Employers (NYSE:EIG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $207.60 million for the quarter, compared to the consensus estimate of $213.04 million. Employers had a return on equity of 1.10% and a net margin of 0.95%.Employers's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. On average, sell-side analysts predict that Employers Holdings Inc will post 2.22 EPS for the current year.

Employers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.36 annualized dividend and a dividend yield of 3.1%. This is an increase from Employers's previous quarterly dividend of $0.32. Employers's payout ratio is currently 412.12%.

Insider Buying and Selling

In related news, insider Ann Marie Smith sold 5,000 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $39.29, for a total transaction of $196,450.00. Following the completion of the sale, the insider directly owned 8,704 shares of the company's stock, valued at approximately $341,980.16. This represents a 36.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Pedraja acquired 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average cost of $39.73 per share, with a total value of $79,460.00. Following the completion of the acquisition, the executive vice president owned 19,830 shares in the company, valued at $787,845.90. This trade represents a 11.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on EIG shares. Wall Street Zen raised shares of Employers from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Zacks Research downgraded shares of Employers from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

Employers Profile

Employers Holdings, Inc NYSE: EIG is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers' compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.

Want to see what other hedge funds are holding EIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Employers Holdings Inc (NYSE:EIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.