EMC Insurance Group Inc. (EMCI) Insider Mark E. Reese Sells 1,115 Shares
EMC Insurance Group Inc. (NASDAQ:EMCI) insider Mark E. Reese sold 1,115 shares of the stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $28.35, for a total value of $31,610.25. Following the completion of the sale, the insider now owns 16,147 shares of the company’s stock, valued at $457,767.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
EMC Insurance Group Inc. (NASDAQ:EMCI) traded down 0.11% during mid-day trading on Wednesday, reaching $28.17. The company had a trading volume of 3,470 shares. EMC Insurance Group Inc. has a 12-month low of $21.62 and a 12-month high of $29.01. The firm has a market capitalization of $594.47 million, a price-to-earnings ratio of 16.93 and a beta of 0.76. The firm has a 50-day moving average price of $26.44 and a 200 day moving average price of $27.14.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.98%. This is a positive change from EMC Insurance Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, November 10th. EMC Insurance Group’s payout ratio is currently 50.30%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EMCI. BlackRock Institutional Trust Company N.A. raised its position in EMC Insurance Group by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 308,575 shares of the company’s stock worth $8,554,000 after buying an additional 3,212 shares in the last quarter. BlackRock Fund Advisors raised its position in EMC Insurance Group by 8.9% in the second quarter. BlackRock Fund Advisors now owns 217,802 shares of the company’s stock worth $6,037,000 after buying an additional 17,825 shares in the last quarter. BlackRock Investment Management LLC raised its position in EMC Insurance Group by 11.5% in the second quarter. BlackRock Investment Management LLC now owns 37,014 shares of the company’s stock worth $1,026,000 after buying an additional 3,817 shares in the last quarter. BlackRock Advisors LLC raised its position in EMC Insurance Group by 3.8% in the second quarter. BlackRock Advisors LLC now owns 4,579 shares of the company’s stock worth $127,000 after buying an additional 167 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in EMC Insurance Group by 10.5% in the second quarter. Prudential Financial Inc. now owns 55,587 shares of the company’s stock worth $1,541,000 after buying an additional 5,300 shares in the last quarter. Institutional investors and hedge funds own 28.19% of the company’s stock.
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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