Lisa Anne Simonetta Sells 1,302 Shares of EMC Insurance Group Inc. (EMCI) Stock
EMC Insurance Group Inc. (NASDAQ:EMCI) insider Lisa Anne Simonetta sold 1,302 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $30.30, for a total value of $39,450.60. Following the transaction, the insider now directly owns 11,386 shares in the company, valued at approximately $344,995.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
EMC Insurance Group Inc. (NASDAQ EMCI) traded down $0.27 during trading hours on Monday, hitting $30.75. The company’s stock had a trading volume of 11,600 shares, compared to its average volume of 23,239. The firm has a market cap of $658.04, a price-to-earnings ratio of 21.81 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. 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 posted its quarterly earnings results on Wednesday, November 8th. The insurance provider reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.16). The company had revenue of $166.51 million for the quarter. EMC Insurance Group had a return on equity of 4.99% and a net margin of 5.32%. equities research analysts forecast that EMC Insurance Group Inc. will post 1.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 20th were paid a dividend of $0.22 per share. This is an increase from EMC Insurance Group’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, November 17th. EMC Insurance Group’s payout ratio is currently 54.32%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of EMC Insurance Group by 1.8% during the 3rd quarter. Wells Fargo & Company MN now owns 190,027 shares of the insurance provider’s stock worth $5,348,000 after acquiring an additional 3,295 shares during the period. SG Americas Securities LLC bought a new position in shares of EMC Insurance Group during the 3rd quarter worth approximately $102,000. Bank of New York Mellon Corp boosted its stake in shares of EMC Insurance Group by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 90,355 shares of the insurance provider’s stock worth $2,543,000 after acquiring an additional 2,063 shares during the period. ZPR Investment Management boosted its stake in shares of EMC Insurance Group by 2.8% during the 2nd quarter. ZPR Investment Management now owns 7,371 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 202 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of EMC Insurance Group by 17.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,708 shares of the insurance provider’s stock worth $242,000 after acquiring an additional 1,280 shares during the period. Institutional investors own 27.99% of the company’s stock.
EMCI has been the topic of several recent analyst reports. BidaskClub raised EMC Insurance Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $30.00 price target on shares of EMC Insurance Group in a research report on Sunday, October 8th. Finally, ValuEngine lowered EMC Insurance Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th.
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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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