EMC Insurance Group Inc. (EMCI) Shares Gap Up to $27.58
EMC Insurance Group Inc. (NASDAQ:EMCI) shares gapped up before the market opened on Thursday . The stock had previously closed at $27.54, but opened at $27.58. EMC Insurance Group shares last traded at $28.05, with a volume of 11,007 shares traded.
Separately, Sandler O’Neill lowered shares of EMC Insurance Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd.
The stock has a 50-day moving average of $27.97 and a 200-day moving average of $26.41. The stock has a market capitalization of $585.60 million and a price-to-earnings ratio of 13.83.
EMC Insurance Group (NASDAQ:EMCI) last posted its earnings results on Tuesday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business had revenue of $120.50 million for the quarter, compared to the consensus estimate of $157.90 million. On average, analysts forecast that EMC Insurance Group Inc. will post $1.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Tuesday, August 30th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, August 26th. This represents a $0.76 annualized dividend and a yield of 2.73%.
In other EMC Insurance Group news, SVP Lisa Anne Simonetta sold 1,242 shares of EMC Insurance Group stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $26.49, for a total transaction of $32,900.58. Following the transaction, the senior vice president now owns 11,866 shares of the company’s stock, valued at approximately $314,330.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Elizabeth A. Nigut sold 1,355 shares of EMC Insurance Group stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $26.77, for a total transaction of $36,273.35. Following the transaction, the senior vice president now directly owns 7,716 shares in the company, valued at approximately $206,557.32. The disclosure for this sale can be found here.
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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