EMC Insurance Group (EMCI) Downgraded by BidaskClub to “Strong Sell”
BidaskClub downgraded shares of EMC Insurance Group (NASDAQ:EMCI) from a sell rating to a strong sell rating in a report released on Tuesday.
A number of other equities analysts also recently commented on EMCI. Keefe, Bruyette & Woods reiterated a market perform rating and set a $30.00 price objective on shares of EMC Insurance Group in a research report on Sunday, October 8th. ValuEngine downgraded EMC Insurance Group from a buy rating to a hold rating in a research report on Wednesday, November 15th.
Shares of EMC Insurance Group (NASDAQ:EMCI) traded up $0.15 during trading on Tuesday, reaching $28.16. The company had a trading volume of 20,809 shares, compared to its average volume of 15,131. EMC Insurance Group has a 52-week low of $25.97 and a 52-week high of $32.19. The stock has a market capitalization of $604.54, a P/E ratio of 17.38 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.08 and a current ratio of 0.08.
EMC Insurance Group (NASDAQ:EMCI) last announced its quarterly earnings data on Wednesday, November 8th. The insurance provider reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.16). EMC Insurance Group had a return on equity of 4.99% and a net margin of 5.32%. The company had revenue of $166.51 million for the quarter. equities analysts predict that EMC Insurance Group will post 1.25 EPS for the current fiscal year.
In other EMC Insurance Group news, insider Lisa Anne Simonetta sold 1,302 shares of EMC Insurance Group stock in a transaction on Friday, December 1st. The stock was sold at an average price of $30.30, for a total value of $39,450.60. Following the sale, the insider now owns 11,386 shares in the company, valued at $344,995.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bruce G. Kelley sold 13,503 shares of EMC Insurance Group stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $30.31, for a total value of $409,275.93. Following the completion of the sale, the chief executive officer now owns 264,003 shares in the company, valued at approximately $8,001,930.93. The disclosure for this sale can be found here. Insiders sold 24,824 shares of company stock worth $746,033 in the last 90 days. Company insiders own 4.46% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in EMC Insurance Group by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,785,827 shares of the insurance provider’s stock valued at $49,610,000 after purchasing an additional 11,059 shares during the period. Vanguard Group Inc. raised its position in EMC Insurance Group by 1.5% in the second quarter. Vanguard Group Inc. now owns 420,044 shares of the insurance provider’s stock valued at $11,668,000 after purchasing an additional 6,068 shares during the period. Northern Trust Corp raised its position in EMC Insurance Group by 5.1% in the second quarter. Northern Trust Corp now owns 408,082 shares of the insurance provider’s stock valued at $11,336,000 after purchasing an additional 19,830 shares during the period. Wells Fargo & Company MN raised its position in EMC Insurance Group by 1.8% in the third quarter. Wells Fargo & Company MN now owns 190,027 shares of the insurance provider’s stock valued at $5,348,000 after purchasing an additional 3,295 shares during the period. Finally, Ameriprise Financial Inc. raised its position in EMC Insurance Group by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 177,709 shares of the insurance provider’s stock valued at $4,937,000 after purchasing an additional 4,300 shares during the period. Institutional investors own 27.99% of the company’s stock.
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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