EMC Insurance Group Inc. (NASDAQ:EMCI) VP Robert Lynn Link sold 3,938 shares of EMC Insurance Group stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $29.29, for a total value of $115,344.02. Following the completion of the transaction, the vice president now owns 9,612 shares in the company, valued at approximately $281,535.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of EMC Insurance Group Inc. (NASDAQ EMCI) traded down $0.23 during mid-day trading on Wednesday, hitting $29.29. The stock had a trading volume of 40,000 shares, compared to its average volume of 23,258. EMC Insurance Group Inc. has a 1-year low of $25.97 and a 1-year high of $31.47. The stock has a market capitalization of $631.72, a price-to-earnings ratio of 20.94 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.08 and a quick ratio of 0.08.
EMC Insurance Group (NASDAQ:EMCI) last issued its quarterly earnings results on Wednesday, November 8th. The insurance provider reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.16). EMC Insurance Group had a return on equity of 4.99% and a net margin of 5.32%. The business had revenue of $166.51 million for the quarter. equities analysts expect that EMC Insurance Group Inc. will post 1.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 20th will be paid a dividend of $0.22 per share. This is a positive change from EMC Insurance Group’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, November 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.00%. EMC Insurance Group’s payout ratio is presently 51.85%.
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Several institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its holdings in shares of EMC Insurance Group by 0.7% during the second quarter. Bessemer Group Inc. now owns 14,400 shares of the insurance provider’s stock worth $400,000 after purchasing an additional 100 shares during the period. American Century Companies Inc. lifted its holdings in EMC Insurance Group by 0.3% in the second quarter. American Century Companies Inc. now owns 39,927 shares of the insurance provider’s stock valued at $1,109,000 after acquiring an additional 100 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in EMC Insurance Group by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,603 shares of the insurance provider’s stock valued at $795,000 after acquiring an additional 133 shares during the period. ZPR Investment Management lifted its holdings in EMC Insurance Group by 2.8% in the second quarter. ZPR Investment Management now owns 7,371 shares of the insurance provider’s stock valued at $205,000 after acquiring an additional 202 shares during the period. Finally, American International Group Inc. lifted its holdings in EMC Insurance Group by 7.3% in the first quarter. American International Group Inc. now owns 5,150 shares of the insurance provider’s stock valued at $145,000 after acquiring an additional 351 shares during the period. 28.15% of the stock is owned by hedge funds and other institutional investors.
EMCI has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $30.00 target price on shares of EMC Insurance Group in a research note on Sunday, October 8th. ValuEngine lowered EMC Insurance Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, BidaskClub lowered EMC Insurance Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th.
About EMC Insurance Group
EMC Insurance Group Inc is an insurance holding company. The Company operates through two segments: Property and Casualty Insurance and Reinsurance segment. It conducts its property and casualty insurance operations through its subsidiaries, including EMCASCO Insurance Company, Illinois EMCASCO Insurance Company and Dakota Fire Insurance Company, and its reinsurance operations through its subsidiary, EMC Reinsurance Company.
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