EMC Insurance Group (EMCI) Lowered to “Strong Sell” at BidaskClub

EMC Insurance Group (NASDAQ:EMCI) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday.

EMCI has been the topic of several other reports. ValuEngine lowered EMC Insurance Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $32.00 price target on shares of EMC Insurance Group in a research report on Friday, November 10th.

Shares of EMC Insurance Group (EMCI) traded down $0.02 during trading on Tuesday, hitting $28.12. The stock had a trading volume of 15,502 shares, compared to its average volume of 15,620. The firm has a market capitalization of $602.18, a price-to-earnings ratio of 17.36 and a beta of 1.00. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.04. EMC Insurance Group has a 12 month low of $25.97 and a 12 month high of $32.19.

EMC Insurance Group (NASDAQ:EMCI) last announced its earnings results on Wednesday, November 8th. The insurance provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 will post 1.25 earnings per share for the current fiscal year.

In other EMC Insurance Group news, insider Lisa Anne Simonetta sold 1,302 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $30.30, for a total value of $39,450.60. Following the transaction, the insider now owns 11,386 shares in the company, valued at $344,995.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bruce G. Kelley sold 13,503 shares of the business’s stock in a transaction dated 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 transaction, 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 have sold 24,824 shares of company stock worth $746,033 over the last three months. 4.46% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dalton Greiner Hartman Maher & Co. boosted its stake in shares of EMC Insurance Group by 65.8% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 141,550 shares of the insurance provider’s stock worth $4,061,000 after acquiring an additional 56,172 shares in the last quarter. Northern Trust Corp boosted its stake in shares of EMC Insurance Group by 5.1% during the 2nd quarter. Northern Trust Corp now owns 408,082 shares of the insurance provider’s stock worth $11,336,000 after acquiring an additional 19,830 shares in the last quarter. State Street Corp boosted its stake in shares of EMC Insurance Group by 11.3% during the 2nd quarter. State Street Corp now owns 150,958 shares of the insurance provider’s stock worth $4,193,000 after acquiring an additional 15,367 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of EMC Insurance Group by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,785,827 shares of the insurance provider’s stock worth $49,610,000 after acquiring an additional 11,059 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of EMC Insurance Group by 3.4% during the 2nd quarter. Wells Fargo & Company MN now owns 186,732 shares of the insurance provider’s stock worth $5,187,000 after acquiring an additional 6,161 shares in the last quarter. Hedge funds and other institutional investors own 27.99% of the company’s stock.

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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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