Employers Holdings, Inc. (NYSE:EIG) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its position in shares of Employers Holdings, Inc. (NYSE:EIG - Free Report) by 71.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,447 shares of the financial services provider's stock after selling 51,000 shares during the period. Millennium Management LLC owned approximately 0.08% of Employers worth $1,048,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in Employers by 312.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the financial services provider's stock worth $25,000 after acquiring an additional 365 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Employers in the fourth quarter valued at approximately $29,000. Lazard Asset Management LLC acquired a new position in shares of Employers in the fourth quarter valued at approximately $48,000. PNC Financial Services Group Inc. grew its holdings in shares of Employers by 10.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,680 shares of the financial services provider's stock valued at $137,000 after purchasing an additional 262 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Employers during the 4th quarter worth approximately $230,000. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Employers

In other Employers news, EVP Michael Pedraja purchased 3,050 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $48.59 per share, with a total value of $148,199.50. Following the acquisition, the executive vice president now directly owns 7,330 shares of the company's stock, valued at approximately $356,164.70. This represents a 71.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John M. Mutschink sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $49.12, for a total value of $98,240.00. Following the completion of the transaction, the executive vice president now owns 19,789 shares in the company, valued at approximately $972,035.68. The trade was a 9.18% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Employers Stock Down 1.3%

EIG stock traded down $0.60 during midday trading on Monday, hitting $47.07. The company's stock had a trading volume of 155,130 shares, compared to its average volume of 139,741. Employers Holdings, Inc. has a 52-week low of $40.66 and a 52-week high of $54.44. The firm has a market capitalization of $1.13 billion, a P/E ratio of 9.99 and a beta of 0.56. The firm has a 50-day simple moving average of $48.51 and a 200-day simple moving average of $49.75.

Employers (NYSE:EIG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.18. Employers had a return on equity of 8.99% and a net margin of 13.47%. The business had revenue of $202.60 million for the quarter, compared to analysts' expectations of $216.81 million. During the same period last year, the firm earned $0.67 earnings per share. The company's revenue for the quarter was down 9.2% compared to the same quarter last year. On average, sell-side analysts expect that Employers Holdings, Inc. will post 3.63 earnings per share for the current fiscal year.

Employers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from Employers's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, May 14th. Employers's dividend payout ratio is presently 31.07%.

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.