State Board of Administration of Florida Retirement System maintained its stake in EMC Insurance Group Inc. (NASDAQ:EMCI) during the second quarter, Holdings Channel reports. The institutional investor owned 13,036 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned approximately 0.06% of EMC Insurance Group worth $361,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of EMCI. Swiss National Bank increased its stake in EMC Insurance Group by 9.5% in the second quarter. Swiss National Bank now owns 11,550 shares of the company’s stock valued at $320,000 after buying an additional 1,000 shares during the last quarter. California State Teachers Retirement System increased 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. Emerald Acquisition Ltd. purchased a new stake in shares of EMC Insurance Group during the second quarter worth about $501,000. Strs Ohio increased its stake in shares of EMC Insurance Group by 46.4% in the second quarter. Strs Ohio now owns 20,200 shares of the company’s stock worth $559,000 after buying an additional 6,400 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of EMC Insurance Group by 14.7% in the second quarter. American Century Companies Inc. now owns 34,397 shares of the company’s stock worth $953,000 after buying an additional 4,407 shares during the last quarter. 28.14% of the stock is owned by institutional investors.
Shares of EMC Insurance Group Inc. (NASDAQ:EMCI) traded up 0.04% during trading on Wednesday, hitting $27.40. 4,797 shares of the stock were exchanged. The firm has a 50 day moving average of $27.49 and a 200-day moving average of $27.07. The stock has a market cap of $576.96 million, a PE ratio of 13.63 and a beta of 0.66. EMC Insurance Group Inc. has a 52-week low of $21.62 and a 52-week high of $29.01.
EMC Insurance Group (NASDAQ:EMCI) last announced its earnings results on Tuesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The company earned $120.50 million during the quarter, compared to analyst estimates of $157.90 million. EMC Insurance Group had a net margin of 5.77% and a return on equity of 6.70%. Equities research analysts anticipate that EMC Insurance Group Inc. will post $1.71 earnings per share for the current fiscal year.
Separately, Sandler O’Neill downgraded shares of EMC Insurance Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd.
In related news, insider Mark E. Reese sold 1,000 shares of the business’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 directly owns 17,113 shares in the company, valued at $480,533.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ronald Allan Paine sold 3,526 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were 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 $449,400. The disclosure for this sale can be found here. Corporate insiders own 4.46% 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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