TIAA CREF Investment Management LLC lowered its position in shares of EMC Insurance Group Inc. (NASDAQ:EMCI) by 3.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,335 shares of the insurance provider’s stock after selling 786 shares during the period. TIAA CREF Investment Management LLC owned about 0.11% of EMC Insurance Group worth $676,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. American International Group Inc. grew its position in EMC Insurance Group by 7.3% during the 1st quarter. American International Group Inc. now owns 5,150 shares of the insurance provider’s stock worth $145,000 after acquiring an additional 351 shares during the last quarter. Alliancebernstein L.P. grew its position in EMC Insurance Group by 5.8% during the 1st quarter. Alliancebernstein L.P. now owns 7,300 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 400 shares during the last quarter. PNC Financial Services Group Inc. grew its position in EMC Insurance Group by 10.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,605 shares of the insurance provider’s stock worth $241,000 after acquiring an additional 830 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in EMC Insurance Group during the 1st quarter worth $323,000. Finally, Swiss National Bank grew its position in EMC Insurance Group by 19.9% during the 1st quarter. Swiss National Bank now owns 13,850 shares of the insurance provider’s stock worth $389,000 after acquiring an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 28.15% of the company’s stock.
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Several research analysts have commented on EMCI shares. ValuEngine downgraded EMC Insurance Group from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $30.00 target price on shares of EMC Insurance Group in a report on Sunday, October 8th. Finally, BidaskClub raised 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 $29.29 on Wednesday. The company has a market capitalization of $631.72, a PE ratio of 20.94 and a beta of 0.98. EMC Insurance Group Inc. has a twelve month low of $25.97 and a twelve month high of $31.47. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.04.
EMC Insurance Group (NASDAQ:EMCI) last announced its earnings results on Wednesday, November 8th. The insurance provider reported $0.05 EPS 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 analysts anticipate that EMC Insurance Group Inc. will post 1.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 20th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, November 17th. This is an increase from EMC Insurance Group’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.00%. EMC Insurance Group’s payout ratio is presently 51.85%.
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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