Millennium Management LLC Cuts Holdings in Employers Holdings, Inc. (NYSE:EIG)

Millennium Management LLC reduced its stake in shares of Employers Holdings, Inc. (NYSE:EIG - Free Report) by 20.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,456 shares of the financial services provider's stock after selling 31,232 shares during the quarter. Millennium Management LLC owned approximately 0.48% of Employers worth $5,178,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp boosted its position in shares of Employers by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,511 shares of the financial services provider's stock worth $1,022,000 after purchasing an additional 292 shares in the last quarter. Inspire Investing LLC boosted its holdings in Employers by 4.3% in the second quarter. Inspire Investing LLC now owns 8,225 shares of the financial services provider's stock worth $351,000 after acquiring an additional 336 shares in the last quarter. Isthmus Partners LLC boosted its holdings in Employers by 0.5% in the second quarter. Isthmus Partners LLC now owns 81,362 shares of the financial services provider's stock worth $35,000 after acquiring an additional 375 shares in the last quarter. Sei Investments Co. grew its stake in shares of Employers by 8.0% during the second quarter. Sei Investments Co. now owns 10,678 shares of the financial services provider's stock worth $455,000 after acquiring an additional 795 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Employers in the 1st quarter valued at approximately $36,000. Institutional investors own 80.49% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities raised shares of Employers to a "hold" rating in a research report on Thursday, August 1st.

Employers Price Performance

EIG traded up $0.16 on Friday, reaching $48.20. 61,631 shares of the stock were exchanged, compared to its average volume of 132,233. The company's 50-day moving average price is $47.23 and its 200 day moving average price is $44.66. The firm has a market capitalization of $1.22 billion, a PE ratio of 10.21 and a beta of 0.24. Employers Holdings, Inc. has a fifty-two week low of $36.65 and a fifty-two week high of $49.30.

Employers (NYSE:EIG - Get Free Report) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.02. Employers had a return on equity of 9.95% and a net margin of 13.76%. The firm had revenue of $217.00 million for the quarter, compared to analyst estimates of $223.82 million. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Employers's revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts forecast that Employers Holdings, Inc. will post 3.63 earnings per share for the current fiscal year.

Employers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.49%. Employers's dividend payout ratio (DPR) is presently 25.42%.

About Employers

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.