Prudential Financial Inc. Cuts Holdings in EMC Insurance Group Inc. (EMCI)

Prudential Financial Inc. trimmed its position in shares of EMC Insurance Group Inc. (NASDAQ:EMCI) by 16.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,807 shares of the insurance provider’s stock after selling 10,760 shares during the quarter. Prudential Financial Inc. owned approximately 0.26% of EMC Insurance Group worth $1,571,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in EMC Insurance Group by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,785,827 shares of the insurance provider’s stock valued at $49,610,000 after acquiring an additional 11,059 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of EMC Insurance Group by 1.5% during the second quarter. Vanguard Group Inc. now owns 420,044 shares of the insurance provider’s stock valued at $11,668,000 after purchasing an additional 6,068 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of EMC Insurance Group by 5.1% during the second quarter. Northern Trust Corp now owns 408,082 shares of the insurance provider’s stock valued at $11,336,000 after purchasing an additional 19,830 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of EMC Insurance Group by 3.4% during the second quarter. Wells Fargo & Company MN now owns 186,732 shares of the insurance provider’s stock valued at $5,187,000 after purchasing an additional 6,161 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of EMC Insurance Group by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 177,709 shares of the insurance provider’s stock valued at $4,937,000 after purchasing an additional 4,300 shares during the last quarter. 27.99% of the stock is currently owned by institutional investors and hedge funds.

EMCI has been the subject of several recent research reports. ValuEngine lowered shares of EMC Insurance Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $32.00 price objective on shares of EMC Insurance Group in a report on Friday, November 10th. Finally, BidaskClub upgraded shares of EMC Insurance Group from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th.

EMC Insurance Group Inc. (NASDAQ:EMCI) opened at $29.93 on Thursday. EMC Insurance Group Inc. has a 1-year low of $25.97 and a 1-year high of $32.19. The firm has a market cap of $651.83, a P/E ratio of 21.60 and a beta of 0.99. 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 announced its quarterly earnings data on Wednesday, November 8th. The insurance provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $166.51 million during the quarter. analysts anticipate that EMC Insurance Group Inc. will post 1.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Monday, November 20th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, November 17th. This is a positive change from EMC Insurance Group’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.94%. EMC Insurance Group’s payout ratio is currently 54.32%.

In other EMC Insurance Group news, VP Robert Lynn Link sold 3,938 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were 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 approximately $281,535.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ronald Allan Paine sold 3,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $29.47, for a total transaction of $88,410.00. Following the sale, the insider now owns 22,476 shares of the company’s stock, valued at $662,367.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,824 shares of company stock valued at $746,033. Company insiders own 4.46% of the company’s stock.

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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.

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

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