Y Intercept Hong Kong Ltd Acquires New Stake in Employers Holdings Inc (NYSE:EIG)

Key Points

• Y Intercept Hong Kong Ltd acquired a new stake in Employers Holdings Inc, purchasing 16,995 shares valued at approximately $861,000, representing 0.07% ownership of the company.
• Employers Holdings reported quarterly earnings with an EPS of $0.87, exceeding the consensus estimate of $0.69, but the firm's revenue was down 9.2% year-over-year.
• The company declared a quarterly dividend of $0.32 per share, an increase from the previous dividend of $0.30, with a yield of 2.79%.

Y Intercept Hong Kong Ltd acquired a new stake in Employers Holdings Inc (NYSE:EIG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 16,995 shares of the financial services provider's stock, valued at approximately $861,000. Y Intercept Hong Kong Ltd owned 0.07% of Employers at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EIG. Norges Bank purchased a new stake in shares of Employers in the 4th quarter valued at $8,935,000. Raymond James Financial Inc. acquired a new stake in Employers in the 4th quarter valued at about $7,451,000. JPMorgan Chase & Co. raised its position in Employers by 158.7% in the 4th quarter. JPMorgan Chase & Co. now owns 205,698 shares of the financial services provider's stock valued at $10,538,000 after purchasing an additional 126,186 shares in the last quarter. GAMMA Investing LLC raised its position in Employers by 5,792.9% in the 1st quarter. GAMMA Investing LLC now owns 108,724 shares of the financial services provider's stock valued at $5,506,000 after purchasing an additional 106,879 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Employers in the 4th quarter valued at about $4,688,000. Hedge funds and other institutional investors own 80.49% of the company's stock.

Insider Activity at Employers

In other Employers news, EVP Michael Pedraja acquired 3,050 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $48.59 per share, for a total transaction of $148,199.50. Following the acquisition, the executive vice president owned 7,330 shares in the company, valued at $356,164.70. The trade was a 71.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 owned 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. Insiders own 1.40% of the company's stock.

Employers Price Performance

EIG stock opened at $45.92 on Friday. Employers Holdings Inc has a 1 year low of $44.89 and a 1 year high of $54.44. The firm has a market capitalization of $1.10 billion, a P/E ratio of 11.14 and a beta of 0.54. The business's 50-day moving average is $47.25 and its two-hundred day moving average is $48.54.

Employers (NYSE:EIG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.69 by $0.18. Employers had a net margin of 11.99% and a return on equity of 9.21%. The company had revenue of $202.60 million during the quarter, compared to analysts' expectations of $216.81 million. During the same quarter in the previous year, the business posted $0.67 EPS. The firm's revenue was down 9.2% on a year-over-year basis. On average, analysts expect that Employers Holdings Inc will post 3.63 EPS for the current year.

Employers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Wednesday, May 14th. This is a boost from Employers's previous quarterly dividend of $0.30. Employers's payout ratio is 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.

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