Connor Clark & Lunn Investment Management Ltd. Invests $231,000 in Employers Holdings, Inc. (EIG) Stock
Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Employers Holdings, Inc. (NYSE:EIG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,750 shares of the financial services provider’s stock, valued at approximately $231,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of EIG. Cambria Investment Management L.P. acquired a new position in Employers during the first quarter valued at $227,000. Koch Industries Inc. acquired a new position in Employers during the first quarter valued at $277,000. Xact Kapitalforvaltning AB acquired a new position in Employers during the first quarter valued at $345,000. Victory Capital Management Inc. lifted its position in Employers by 34.1% during the first quarter. Victory Capital Management Inc. now owns 8,890 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 2,261 shares during the period. Finally, Symphony Asset Management LLC acquired a new position in Employers during the first quarter valued at $534,000. Institutional investors own 79.56% of the company’s stock.
A number of research firms recently issued reports on EIG. Boenning Scattergood began coverage on shares of Employers in a research report on Tuesday, June 19th. They set a “neutral” rating for the company. Zacks Investment Research downgraded shares of Employers from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, ValuEngine downgraded shares of Employers from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Employers presently has an average rating of “Hold” and a consensus price target of $46.67.
Employers (NYSE:EIG) last issued its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.38. The business had revenue of $204.10 million during the quarter, compared to the consensus estimate of $203.79 million. Employers had a net margin of 15.10% and a return on equity of 12.51%. sell-side analysts expect that Employers Holdings, Inc. will post 3.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 22nd. Shareholders of record on Wednesday, August 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.79%. Employers’s dividend payout ratio (DPR) is currently 27.68%.
In other Employers news, EVP John P. Nelson sold 7,698 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $44.78, for a total value of $344,716.44. Following the completion of the transaction, the executive vice president now owns 20,434 shares in the company, valued at $915,034.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lenard T. Ormsby sold 6,000 shares of the company’s stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $40.52, for a total transaction of $243,120.00. Following the completion of the transaction, the executive vice president now owns 22,681 shares of the company’s stock, valued at approximately $919,034.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,578 shares of company stock valued at $743,038. Insiders own 3.50% 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; and alternative distribution channels comprising its partners, as well as through national, regional, and local trade groups and associations.
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