EMC Insurance Group Inc. (EMCI) Position Trimmed by Prudential Financial Inc.

Prudential Financial Inc. trimmed its stake in EMC Insurance Group Inc. (NASDAQ:EMCI) by 16.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,807 shares of the insurance provider’s stock after selling 10,760 shares during the period. Prudential Financial Inc. owned 0.26% of EMC Insurance Group worth $1,571,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Alliancebernstein L.P. boosted its holdings in EMC Insurance Group by 5.8% in the 1st quarter. Alliancebernstein L.P. now owns 7,300 shares of the insurance provider’s stock worth $205,000 after buying an additional 400 shares during the period. ZPR Investment Management boosted its holdings in EMC Insurance Group by 2.8% in the 2nd quarter. ZPR Investment Management now owns 7,371 shares of the insurance provider’s stock worth $205,000 after buying an additional 202 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in EMC Insurance Group by 17.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,708 shares of the insurance provider’s stock worth $242,000 after buying an additional 1,280 shares during the period. Goldman Sachs Group Inc. bought a new position in shares of EMC Insurance Group during the 1st quarter valued at about $323,000. Finally, Bessemer Group Inc. boosted its holdings in shares of EMC Insurance Group by 0.7% during the 2nd quarter. Bessemer Group Inc. now owns 14,400 shares of the insurance provider’s stock valued at $400,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 27.99% of the company’s stock.

Shares of EMC Insurance Group Inc. (EMCI) traded down $0.47 during midday trading on Friday, hitting $28.69. 10,507 shares of the stock traded hands, compared to its average volume of 16,930. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market cap of $624.01, a PE ratio of 17.71 and a beta of 0.99. EMC Insurance Group Inc. has a 52-week low of $25.97 and a 52-week high of $32.19.

EMC Insurance Group (NASDAQ:EMCI) last announced its earnings results on Wednesday, November 8th. The insurance provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.16). The business had revenue of $166.51 million for the quarter. EMC Insurance Group had a net margin of 5.32% and a return on equity of 4.99%. equities analysts forecast that EMC Insurance Group Inc. will post 1.25 EPS for the current fiscal year.

In related news, CEO Bruce G. Kelley sold 13,503 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $30.31, for a total value of $409,275.93. Following the sale, the chief executive officer now directly owns 264,003 shares of the company’s stock, valued at approximately $8,001,930.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert Lynn Link sold 3,938 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $29.29, for a total transaction of $115,344.02. Following the completion of the sale, the vice president now directly owns 9,612 shares in the company, valued at $281,535.48. The disclosure for this sale can be found here. Insiders sold a total of 24,824 shares of company stock worth $746,033 over the last three months. 4.46% of the stock is currently owned by corporate insiders.

Several research firms have commented on EMCI. BidaskClub downgraded shares of EMC Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. ValuEngine downgraded shares of EMC Insurance Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $32.00 price objective on shares of EMC Insurance Group in a report on Friday, November 10th.

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EMC Insurance Group Profile

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.

Institutional Ownership by Quarter for EMC Insurance Group (NASDAQ:EMCI)

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