Northern Trust Corp Trims Stock Position in Employers Holdings Inc $EIG

Key Points

• Northern Trust Corp has reduced its stake in Employers Holdings Inc by 3.7%, selling 18,956 shares during the first quarter, representing approximately 2.03% of the company's shares worth around $24.67 million.
• Shares of Employers Holdings have recently been rated "sell" by Wall Street Zen, down from a previous "hold" rating, although the consensus remains a "buy" with an average target price of $58.00.
• Employers recently declared a quarterly dividend of $0.32 per share with an annual yield of 3.0%, and its latest earnings report disclosed a net margin of 11.37%.

Northern Trust Corp lowered its stake in shares of Employers Holdings Inc (NYSE:EIG - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 487,184 shares of the financial services provider's stock after selling 18,956 shares during the quarter. Northern Trust Corp owned about 2.03% of Employers worth $24,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D lifted its position in shares of Employers by 19.4% during the first quarter. State of New Jersey Common Pension Fund D now owns 50,495 shares of the financial services provider's stock valued at $2,557,000 after buying an additional 8,202 shares during the last quarter. American Century Companies Inc. lifted its position in Employers by 8.3% during the first quarter. American Century Companies Inc. now owns 611,947 shares of the financial services provider's stock valued at $30,989,000 after acquiring an additional 46,793 shares during the last quarter. Boston Partners boosted its stake in Employers by 3.9% in the first quarter. Boston Partners now owns 291,459 shares of the financial services provider's stock valued at $14,609,000 after acquiring an additional 10,970 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Employers by 158.8% in the first quarter. Russell Investments Group Ltd. now owns 21,684 shares of the financial services provider's stock valued at $1,098,000 after acquiring an additional 13,305 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Employers by 58.5% in the first quarter. Public Sector Pension Investment Board now owns 97,607 shares of the financial services provider's stock worth $4,943,000 after purchasing an additional 36,037 shares during the last quarter. Hedge funds and other institutional investors own 80.49% of the company's stock.

Employers Stock Performance

Shares of NYSE EIG traded up $0.17 during mid-day trading on Thursday, hitting $43.05. The stock had a trading volume of 43,890 shares, compared to its average volume of 168,697. The firm has a market cap of $1.01 billion, a PE ratio of 10.50 and a beta of 0.53. The company has a 50 day moving average of $44.30 and a two-hundred day moving average of $47.23. Employers Holdings Inc has a twelve month low of $38.19 and a twelve month high of $54.44.

Employers (NYSE:EIG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.46). The firm had revenue of $246.30 million for the quarter, compared to analysts' expectations of $217.17 million. Employers had a net margin of 11.37% and a return on equity of 7.56%. The firm's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 EPS. Equities research 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 was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.0%. The ex-dividend date was Wednesday, August 13th. Employers's dividend payout ratio is 31.22%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Employers from a "hold" rating to a "sell" rating in a report on Monday, August 25th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus 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.