Innealta Capital LLC Purchases New Position in Employers Holdings, Inc. (NYSE:EIG)

Innealta Capital LLC bought a new stake in Employers Holdings, Inc. (NYSE:EIG) in the second quarter, HoldingsChannel reports. The firm bought 1,889 shares of the financial services provider’s stock, valued at approximately $81,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in Employers in the first quarter valued at about $36,000. Bessemer Group Inc. raised its position in shares of Employers by 983.8% during the 1st quarter. Bessemer Group Inc. now owns 1,138 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,033 shares during the period. Mutual of America Capital Management LLC bought a new position in Employers in the 1st quarter worth $201,000. ProShare Advisors LLC purchased a new stake in Employers in the 1st quarter worth $235,000. Finally, Everence Capital Management Inc. bought a new stake in Employers during the first quarter valued at about $250,000. 80.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JMP Securities upgraded Employers to a “hold” rating in a research report on Thursday, August 1st.

Employers Price Performance

Shares of NYSE EIG traded up $0.19 during midday trading on Friday, reaching $47.95. 67,724 shares of the stock traded hands, compared to its average volume of 132,963. The company’s 50 day moving average is $45.13 and its 200 day moving average is $44.00. Employers Holdings, Inc. has a one year low of $36.65 and a one year high of $49.00. The stock has a market capitalization of $1.22 billion, a PE ratio of 10.14 and a beta of 0.24.

Employers (NYSE:EIG) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $217.00 million for the quarter, compared to the consensus estimate of $223.82 million. Employers had a net margin of 13.76% and a return on equity of 9.95%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 EPS. As a group, equities analysts forecast that Employers Holdings, Inc. will post 3.65 EPS for the current year.

Employers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Wednesday, August 14th. Employers’s dividend payout ratio is currently 25.42%.

Employers Company 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.