Geode Capital Management LLC boosted its stake in shares of EMC Insurance Group Inc. (NASDAQ:EMCI) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,058 shares of the insurance provider’s stock after buying an additional 4,599 shares during the period. Geode Capital Management LLC owned 0.36% of EMC Insurance Group worth $2,134,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of EMC Insurance Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 413,976 shares of the insurance provider’s stock valued at $11,616,000 after buying an additional 12,084 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of EMC Insurance Group by 10.7% in the first quarter. PNC Financial Services Group Inc. now owns 8,605 shares of the insurance provider’s stock valued at $241,000 after buying an additional 830 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of EMC Insurance Group by 5.8% in the first quarter. Alliancebernstein L.P. now owns 7,300 shares of the insurance provider’s stock valued at $205,000 after buying an additional 400 shares during the last quarter. American International Group Inc. increased its stake in shares of 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 buying an additional 351 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of EMC Insurance Group by 5.0% in the first quarter. Prudential Financial Inc. now owns 63,167 shares of the insurance provider’s stock valued at $1,773,000 after buying an additional 3,010 shares during the last quarter. Hedge funds and other institutional investors own 28.17% of the company’s stock.

Shares of EMC Insurance Group Inc. (NASDAQ EMCI) traded down 0.54% during mid-day trading on Monday, hitting $27.60. 4,343 shares of the stock traded hands. The firm has a 50 day moving average of $27.70 and a 200 day moving average of $27.71. EMC Insurance Group Inc. has a 12 month low of $23.44 and a 12 month high of $31.47. The stock has a market cap of $589.26 million, a price-to-earnings ratio of 15.50 and a beta of 0.93.

EMC Insurance Group (NASDAQ:EMCI) last released its earnings results on Tuesday, August 8th. The insurance provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.12. EMC Insurance Group had a net margin of 5.87% and a return on equity of 5.66%. The business had revenue of $160.76 million during the quarter. On average, equities analysts expect that EMC Insurance Group Inc. will post $1.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 29th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, August 25th. EMC Insurance Group’s dividend payout ratio (DPR) is currently 46.93%.

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Separately, BidaskClub downgraded shares of EMC Insurance Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th.

In other EMC Insurance Group news, insider Mark E. Reese sold 2,233 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 13,983 shares of the company’s stock, valued at $400,752.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ronald Allan Paine sold 2,250 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $28.60, for a total value of $64,350.00. Following the completion of the sale, the insider now directly owns 24,823 shares of the company’s stock, valued at approximately $709,937.80. The disclosure for this sale can be found here. 4.46% of the stock is currently owned by company insiders.

EMC Insurance Group Company 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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