EMC Insurance Group Inc. (NASDAQ:EMCI) Short Interest Update

EMC Insurance Group Inc. (NASDAQ:EMCI) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 73,400 shares, a decline of 12.5% from the May 15th total of 83,900 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 24,400 shares, the days-to-cover ratio is currently 3.0 days.

Several equities analysts have recently weighed in on EMCI shares. BidaskClub raised shares of EMC Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. ValuEngine raised shares of EMC Insurance Group from a “hold” rating to a “buy” rating in a report on Monday, May 13th.

Several large investors have recently bought and sold shares of EMCI. Geode Capital Management LLC increased its holdings in shares of EMC Insurance Group by 41.7% during the 4th quarter. Geode Capital Management LLC now owns 120,228 shares of the insurance provider’s stock valued at $3,829,000 after purchasing an additional 35,401 shares in the last quarter. Millennium Management LLC grew its stake in EMC Insurance Group by 204.7% in the 4th quarter. Millennium Management LLC now owns 47,052 shares of the insurance provider’s stock valued at $1,499,000 after acquiring an additional 31,608 shares during the period. Kennedy Capital Management Inc. grew its stake in EMC Insurance Group by 32.0% in the 1st quarter. Kennedy Capital Management Inc. now owns 124,544 shares of the insurance provider’s stock valued at $3,970,000 after acquiring an additional 30,228 shares during the period. Stifel Financial Corp acquired a new stake in EMC Insurance Group in the 4th quarter valued at $824,000. Finally, Dalton Greiner Hartman Maher & Co. grew its stake in EMC Insurance Group by 8.0% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 217,054 shares of the insurance provider’s stock valued at $6,920,000 after acquiring an additional 16,167 shares during the period. 27.50% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:EMCI traded down $0.02 during trading on Friday, hitting $36.03. 58,710 shares of the stock traded hands, compared to its average volume of 20,137. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $781.14 million, a P/E ratio of 33.06 and a beta of 0.36. The business’s fifty day simple moving average is $36.04. EMC Insurance Group has a 52-week low of $22.98 and a 52-week high of $36.24.

EMC Insurance Group (NASDAQ:EMCI) last posted its earnings results on Thursday, May 9th. The insurance provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.41. The firm had revenue of $181.60 million during the quarter. EMC Insurance Group had a net margin of 3.66% and a return on equity of 6.00%. As a group, equities research analysts anticipate that EMC Insurance Group will post 1.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Monday, June 3rd. EMC Insurance Group’s dividend payout ratio (DPR) is 84.40%.

About EMC Insurance Group

EMC Insurance Group Inc, an insurance holding company, provides property and casualty insurance, and reinsurance products in the United States. It operates through two segments, Property and Casualty Insurance, and Reinsurance. The Property and Casualty Insurance segment underwrites commercial and personal lines of insurance products.

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