Millennium Management LLC lessened its holdings in Employers Holdings, Inc. (NYSE:EIG) by 21.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 169,304 shares of the financial services provider’s stock after selling 46,872 shares during the period. Millennium Management LLC owned 0.53% of Employers worth $7,378,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. First Trust Advisors LP grew its stake in shares of Employers by 180.0% during the first quarter. First Trust Advisors LP now owns 99,978 shares of the financial services provider’s stock valued at $4,010,000 after buying an additional 64,271 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Employers by 8.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 78,559 shares of the financial services provider’s stock valued at $3,321,000 after buying an additional 5,940 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Employers during the second quarter valued at about $416,000. Aperio Group LLC grew its stake in shares of Employers by 10.3% during the second quarter. Aperio Group LLC now owns 23,077 shares of the financial services provider’s stock valued at $975,000 after buying an additional 2,155 shares during the last quarter. Finally, TD Asset Management Inc. grew its stake in shares of Employers by 64.4% during the second quarter. TD Asset Management Inc. now owns 125,600 shares of the financial services provider’s stock valued at $5,309,000 after buying an additional 49,200 shares during the last quarter. Institutional investors own 79.56% of the company’s stock.
Shares of NYSE EIG traded down $0.15 during trading hours on Wednesday, hitting $41.75. The company’s stock had a trading volume of 131,941 shares, compared to its average volume of 156,893. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 10.16 and a beta of 0.70. Employers Holdings, Inc. has a 12 month low of $39.31 and a 12 month high of $47.45. The business has a 50-day simple moving average of $42.53 and a 200-day simple moving average of $42.90.
Employers (NYSE:EIG) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.28. Employers had a net margin of 18.73% and a return on equity of 12.09%. The business had revenue of $198.40 million during the quarter, compared to analyst estimates of $203.58 million. During the same period last year, the business posted $0.98 earnings per share. On average, equities research analysts anticipate that Employers Holdings, Inc. will post 3.3 earnings per share for the current fiscal year.
Separately, Zacks Investment Research cut Employers from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 24th.
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; alternative distribution channels comprising its partners; and through national, regional, and local trade groups and associations, as well as directly to customers.
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