Y Intercept Hong Kong Ltd Buys 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 bought a new position in Employers Holdings Inc (NYSE:EIG - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 16,995 shares of the financial services provider's stock, valued at approximately $861,000. Y Intercept Hong Kong Ltd owned approximately 0.07% of Employers as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of EIG. Norges Bank acquired a new stake in Employers in the 4th quarter worth approximately $8,935,000. Raymond James Financial Inc. acquired a new stake in Employers during the 4th quarter valued at approximately $7,451,000. JPMorgan Chase & Co. lifted its stake in Employers by 158.7% during the 4th quarter. JPMorgan Chase & Co. now owns 205,698 shares of the financial services provider's stock valued at $10,538,000 after acquiring an additional 126,186 shares during the period. GAMMA Investing LLC lifted its stake in Employers by 5,792.9% during the 1st quarter. GAMMA Investing LLC now owns 108,724 shares of the financial services provider's stock valued at $5,506,000 after acquiring an additional 106,879 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Employers during the 4th quarter valued at approximately $4,688,000. 80.49% of the stock is currently owned by institutional investors and hedge funds.

Employers Trading Up 0.6%

NYSE EIG traded up $0.27 on Tuesday, hitting $46.03. 23,786 shares of the company's stock traded hands, compared to its average volume of 158,826. Employers Holdings Inc has a 1-year low of $44.89 and a 1-year high of $54.44. The firm's 50-day moving average price is $47.17 and its two-hundred day moving average price is $48.52. The firm has a market capitalization of $1.11 billion, a PE ratio of 11.18 and a beta of 0.54.

Employers (NYSE:EIG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.87 EPS for the quarter, beating 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 business had revenue of $202.60 million during the quarter, compared to analysts' expectations of $216.81 million. During the same period in the previous year, the business posted $0.67 EPS. The business's quarterly revenue was down 9.2% compared to the same quarter last year. On average, research analysts anticipate that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Increases Dividend

The firm also recently disclosed 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. This represents a $1.28 annualized dividend and a yield of 2.78%. This is a boost from Employers's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, May 14th. Employers's payout ratio is presently 31.07%.

Insider Activity at Employers

In other news, EVP Michael Pedraja bought 3,050 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $48.59 per share, for a total transaction of $148,199.50. Following the purchase, the executive vice president directly owned 7,330 shares in the company, valued at approximately $356,164.70. This trade represents a 71.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John M. Mutschink sold 2,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $49.12, for a total transaction of $98,240.00. Following the completion of the transaction, the executive vice president owned 19,789 shares of the company's stock, valued at approximately $972,035.68. This represents a 9.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Employers Company 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.