$205.18 Million in Sales Expected for Employers Holdings, Inc. (EIG) This Quarter
Wall Street brokerages expect Employers Holdings, Inc. (NYSE:EIG) to post $205.18 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Employers’ earnings, with estimates ranging from $203.36 million to $207.00 million. Employers posted sales of $204.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The company is expected to report its next earnings report on Wednesday, July 24th.
According to Zacks, analysts expect that Employers will report full year sales of $819.45 million for the current year, with estimates ranging from $818.70 million to $820.20 million. For the next financial year, analysts expect that the firm will report sales of $844.41 million, with estimates ranging from $842.20 million to $846.62 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Employers.
Employers (NYSE:EIG) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.54 by $0.40. The company had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $214.73 million. Employers had a net margin of 20.04% and a return on equity of 13.71%. During the same quarter in the previous year, the business posted $0.77 EPS.
Shares of NYSE:EIG traded down $0.39 during trading on Friday, hitting $41.63. 118,422 shares of the company were exchanged, compared to its average volume of 162,318. The company has a market capitalization of $1.35 billion, a PE ratio of 10.11 and a beta of 0.79. Employers has a 12-month low of $39.31 and a 12-month high of $47.97.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.88 annualized dividend and a yield of 2.11%. Employers’s dividend payout ratio (DPR) is 21.41%.
In related news, SVP Lawrence S. Rogers sold 1,495 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $40.34, for a total value of $60,308.30. Following the completion of the sale, the senior vice president now owns 11,987 shares in the company, valued at approximately $483,555.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Valerie R. Glenn sold 10,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $41.80, for a total transaction of $418,000.00. Following the completion of the sale, the director now owns 30,957 shares of the company’s stock, valued at approximately $1,294,002.60. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Employers during the 4th quarter worth $28,982,000. Man Group plc raised its position in Employers by 149.2% during the 1st quarter. Man Group plc now owns 391,531 shares of the financial services provider’s stock worth $15,705,000 after buying an additional 234,416 shares during the last quarter. WINTON GROUP Ltd raised its position in Employers by 2,945.5% during the 4th quarter. WINTON GROUP Ltd now owns 168,659 shares of the financial services provider’s stock worth $7,079,000 after buying an additional 163,121 shares during the last quarter. American Century Companies Inc. purchased a new position in Employers during the 4th quarter worth $6,328,000. Finally, Westwood Holdings Group Inc. raised its position in Employers by 43.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 416,439 shares of the financial services provider’s stock worth $16,703,000 after buying an additional 125,173 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.
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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