Dimensional Fund Advisors LP boosted its position in shares of EMC Insurance Group Inc. (NASDAQ:EMCI) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,756,515 shares of the company’s stock after buying an additional 29,930 shares during the period. Dimensional Fund Advisors LP owned about 8.38% of EMC Insurance Group worth $48,690,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in EMCI. PNC Financial Services Group Inc. raised its stake in shares of EMC Insurance Group by 3.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,643 shares of the company’s stock worth $157,000 after buying an additional 208 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of EMC Insurance Group during the first quarter worth about $252,000. Swiss National Bank raised its stake in shares of EMC Insurance Group by 9.5% in the second quarter. Swiss National Bank now owns 11,550 shares of the company’s stock worth $320,000 after buying an additional 1,000 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of EMC Insurance Group by 5.4% in the second quarter. California State Teachers Retirement System now owns 17,506 shares of the company’s stock worth $485,000 after buying an additional 895 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of EMC Insurance Group during the second quarter worth about $501,000. Hedge funds and other institutional investors own 28.14% of the company’s stock.
Shares of EMC Insurance Group Inc. (NASDAQ:EMCI) opened at 27.51 on Tuesday. The stock has a market cap of $579.28 million, a price-to-earnings ratio of 13.68 and a beta of 0.66. The firm’s 50-day moving average price is $27.49 and its 200-day moving average price is $27.07. EMC Insurance Group Inc. has a 12-month low of $21.62 and a 12-month high of $29.01.
EMC Insurance Group (NASDAQ:EMCI) last released its earnings results on Tuesday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. EMC Insurance Group had a net margin of 5.77% and a return on equity of 6.70%. The business had revenue of $120.50 million for the quarter, compared to analyst estimates of $157.90 million. On average, analysts forecast that EMC Insurance Group Inc. will post $1.71 EPS for the current fiscal year.
Separately, Sandler O’Neill lowered EMC Insurance Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 22nd.
In other news, insider Mark E. Reese sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $28.08, for a total transaction of $28,080.00. Following the completion of the sale, the insider now owns 17,113 shares in the company, valued at approximately $480,533.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ronald Allan Paine sold 3,526 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $28.00, for a total transaction of $98,728.00. Following the sale, the insider now owns 16,050 shares of the company’s stock, valued at approximately $449,400. The disclosure for this sale can be found here. 4.46% of the stock is currently owned by company insiders.
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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