KLP Kapitalforvaltning AS Acquires Shares of 21,700 Employers Holdings, Inc. (NYSE:EIG)

KLP Kapitalforvaltning AS bought a new stake in shares of Employers Holdings, Inc. (NYSE:EIG) in the fourth quarter, Holdings Channel reports. The firm bought 21,700 shares of the financial services provider’s stock, valued at approximately $1,112,000.

Several other institutional investors and hedge funds have also modified their holdings of EIG. Smartleaf Asset Management LLC increased its holdings in Employers by 312.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the financial services provider’s stock worth $25,000 after buying an additional 365 shares during the last quarter. Versant Capital Management Inc grew its position in Employers by 50.1% in the fourth quarter. Versant Capital Management Inc now owns 596 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 199 shares in the last quarter. FMR LLC increased its stake in shares of Employers by 15.2% during the 3rd quarter. FMR LLC now owns 1,520 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Employers by 61.1% during the 4th quarter. GAMMA Investing LLC now owns 1,845 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 700 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Employers by 10.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,680 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 262 shares during the last quarter. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

Employers Stock Down 0.8 %

Shares of Employers stock opened at $50.38 on Monday. Employers Holdings, Inc. has a 12-month low of $38.67 and a 12-month high of $54.44. The stock has a 50 day moving average price of $49.69 and a two-hundred day moving average price of $50.00. The stock has a market capitalization of $1.23 billion, a P/E ratio of 10.70 and a beta of 0.21.

Employers (NYSE:EIG) last posted its quarterly earnings data on Thursday, February 20th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.07. The business had revenue of $216.60 million during the quarter, compared to the consensus estimate of $221.18 million. Employers had a net margin of 13.47% and a return on equity of 8.99%. Sell-side analysts anticipate that Employers Holdings, Inc. will post 3.63 earnings per share for the current year.

Employers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Wednesday, March 5th. Employers’s dividend payout ratio is currently 25.48%.

Insider Transactions at Employers

In other news, Director James R. Kroner sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $52.00, for a total transaction of $52,000.00. Following the completion of the transaction, the director now directly owns 22,458 shares in the company, valued at $1,167,816. The trade was a 4.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ann Marie Smith sold 1,385 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $51.24, for a total transaction of $70,967.40. Following the completion of the sale, the insider now owns 8,801 shares in the company, valued at approximately $450,963.24. The trade was a 13.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,385 shares of company stock worth $276,267. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Employers from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

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.