Sterling Capital Management LLC Invests $1.16 Million in Employers Holdings, Inc. (EIG) Stock

Sterling Capital Management LLC acquired a new stake in Employers Holdings, Inc. (NYSE:EIG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,563 shares of the financial services provider’s stock, valued at approximately $1,158,000.

A number of other large investors have also recently bought and sold shares of the business. First Citizens Bank & Trust Co. bought a new position in shares of Employers during the 3rd quarter valued at approximately $209,000. Itau Unibanco Holding S.A. bought a new position in shares of Employers during the 2nd quarter valued at approximately $218,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Employers during the 2nd quarter valued at approximately $231,000. Trexquant Investment LP bought a new position in shares of Employers during the 2nd quarter valued at approximately $238,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Employers during the 2nd quarter valued at approximately $279,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Employers from a “hold” rating to a “strong-buy” rating and set a $51.00 target price for the company in a research report on Monday, October 29th. Boenning Scattergood raised shares of Employers from a “neutral” rating to an “outperform” rating and set a $47.00 target price for the company in a research report on Thursday, October 25th.

In related news, EVP Lenard T. Ormsby sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $46.62, for a total value of $186,480.00. Following the completion of the transaction, the executive vice president now directly owns 23,681 shares of the company’s stock, valued at approximately $1,104,008.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Stephen V. Festa sold 2,268 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $47.00, for a total transaction of $106,596.00. Following the completion of the transaction, the chief operating officer now directly owns 18,634 shares of the company’s stock, valued at $875,798. The disclosure for this sale can be found here. Insiders have sold a total of 9,172 shares of company stock valued at $417,948 over the last three months. Insiders own 3.50% of the company’s stock.

Employers stock opened at $46.76 on Friday. Employers Holdings, Inc. has a twelve month low of $38.35 and a twelve month high of $50.45. The company has a market cap of $1.56 billion, a PE ratio of 16.18 and a beta of 0.90.

Employers (NYSE:EIG) last released its earnings results on Wednesday, October 24th. The financial services provider reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.41. Employers had a net margin of 17.89% and a return on equity of 13.43%. The firm had revenue of $228.90 million during the quarter, compared to the consensus estimate of $205.48 million. On average, sell-side analysts anticipate that Employers Holdings, Inc. will post 3.49 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, November 6th. Employers’s dividend payout ratio is currently 27.68%.

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Employers Company Profile

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; and alternative distribution channels comprising its partners, as well as through national, regional, and local trade groups and associations.

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Institutional Ownership by Quarter for Employers (NYSE:EIG)

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