Millennium Management LLC Reduces Stock Holdings in Employers Holdings, Inc. (NYSE:EIG)

Millennium Management LLC trimmed its holdings in shares of Employers Holdings, Inc. (NYSE:EIG - Free Report) by 71.4% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of EIG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Employers by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,041 shares of the financial services provider's stock valued at $719,000 after buying an additional 518 shares during the period. Lazard Asset Management LLC bought a new position in Employers in the fourth quarter worth approximately $48,000. D. E. Shaw & Co. Inc. grew its stake in Employers by 7.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 39,502 shares of the financial services provider's stock valued at $2,024,000 after acquiring an additional 2,747 shares during the period. Deutsche Bank AG grew its stake in Employers by 121.1% in the fourth quarter. Deutsche Bank AG now owns 51,742 shares of the financial services provider's stock valued at $2,651,000 after acquiring an additional 28,343 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Employers during the fourth quarter valued at approximately $1,135,000. 80.49% of the stock is currently owned by institutional investors.

Employers Trading Up 0.8%

Shares of EIG traded up $0.36 during trading hours on Friday, reaching $47.56. The stock had a trading volume of 213,403 shares, compared to its average volume of 139,679. The firm has a 50-day simple moving average of $48.51 and a 200 day simple moving average of $49.78. Employers Holdings, Inc. has a 12 month low of $40.66 and a 12 month high of $54.44. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 10.10 and a beta of 0.56.

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

Employers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.69%. This is an increase from Employers's previous quarterly dividend of $0.30. Employers's payout ratio is 31.07%.

Insiders Place Their Bets

In related news, EVP John M. Mutschink sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $49.12, for a total transaction of $98,240.00. Following the transaction, the executive vice president now directly owns 19,789 shares in the company, valued at approximately $972,035.68. The trade was a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Pedraja acquired 3,050 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $48.59 per share, with a total value of $148,199.50. Following the purchase, the executive vice president now owns 7,330 shares in the company, valued at approximately $356,164.70. The trade was a 71.26% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company's stock.

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.