EMC Insurance Group Inc. (NASDAQ:EMCI) insider Mark E. Reese sold 2,233 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $28.66, for a total value of $63,997.78. Following the sale, the insider now directly owns 13,983 shares of the company’s stock, valued at $400,752.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of EMC Insurance Group Inc. (NASDAQ EMCI) traded up 0.76% during mid-day trading on Friday, reaching $27.68. The company’s stock had a trading volume of 19,913 shares. The company has a market cap of $588.45 million, a P/E ratio of 15.23 and a beta of 0.92. The company has a 50-day moving average of $27.33 and a 200-day moving average of $28.33. EMC Insurance Group Inc. has a 12 month low of $23.44 and a 12 month high of $31.47.
EMC Insurance Group (NASDAQ:EMCI) last released its earnings results on Friday, May 5th. The insurance provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.22. EMC Insurance Group had a net margin of 5.98% and a return on equity of 6.00%. The business had revenue of $155.08 million for the quarter. Equities research analysts forecast that EMC Insurance Group Inc. will post $1.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Tuesday, June 6th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 3.06%. EMC Insurance Group’s payout ratio is 46.15%.
Institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank increased its stake in shares of EMC Insurance Group by 19.9% in the first quarter. Swiss National Bank now owns 13,850 shares of the insurance provider’s stock valued at $389,000 after buying an additional 2,300 shares during the period. Bank of New York Mellon Corp increased its stake in shares of EMC Insurance Group by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 83,988 shares of the insurance provider’s stock valued at $2,356,000 after buying an additional 2,714 shares during the period. LSV Asset Management increased its stake in shares of EMC Insurance Group by 1.8% in the first quarter. LSV Asset Management now owns 75,100 shares of the insurance provider’s stock valued at $2,107,000 after buying an additional 1,300 shares during the period. Wells Fargo & Company MN increased its stake in shares of EMC Insurance Group by 4.2% in the first quarter. Wells Fargo & Company MN now owns 180,571 shares of the insurance provider’s stock valued at $5,067,000 after buying an additional 7,232 shares during the period. Finally, Clear Harbor Asset Management LLC increased its stake in shares of EMC Insurance Group by 22.2% in the first quarter. Clear Harbor Asset Management LLC now owns 11,000 shares of the insurance provider’s stock valued at $309,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 28.25% of the company’s stock.
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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