EMC Insurance Group (EMCI) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

EMC Insurance Group (NASDAQ:EMCI)‘s stock had its “neutral” rating reissued by stock analysts at Keefe, Bruyette & Woods in a research note issued to investors on Thursday.

Several other brokerages have also recently issued reports on EMCI. BidaskClub cut EMC Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. ValuEngine cut EMC Insurance Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th.

Shares of EMC Insurance Group (NASDAQ:EMCI) opened at $27.09 on Thursday. 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 fifty-two week low of $25.97 and a fifty-two week high of $32.19. The firm has a market capitalization of $579.07, a P/E ratio of 16.72 and a beta of 0.93.

EMC Insurance Group (NASDAQ:EMCI) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). EMC Insurance Group had a return on equity of 4.99% and a net margin of 5.32%. The business had revenue of $169.93 million during the quarter. research analysts anticipate that EMC Insurance Group will post 1.25 EPS for the current year.

In related news, CEO Bruce G. Kelley sold 13,503 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $30.31, for a total value of $409,275.93. Following the transaction, the chief executive officer now owns 264,003 shares of the company’s stock, valued at $8,001,930.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert Lynn Link sold 3,938 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $29.29, for a total value of $115,344.02. Following the completion of the transaction, the vice president now directly owns 9,612 shares in the company, valued at approximately $281,535.48. The disclosure for this sale can be found here. In the last three months, insiders sold 24,824 shares of company stock worth $746,033. 4.46% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. grew its stake in EMC Insurance Group by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,603 shares of the insurance provider’s stock worth $795,000 after purchasing an additional 133 shares in the last quarter. Teachers Advisors LLC boosted its position in EMC Insurance Group by 4.2% during the 2nd quarter. Teachers Advisors LLC now owns 15,281 shares of the insurance provider’s stock valued at $425,000 after acquiring an additional 614 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in EMC Insurance Group by 17.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,708 shares of the insurance provider’s stock valued at $242,000 after acquiring an additional 1,280 shares in the last quarter. Alliancebernstein L.P. boosted its position in EMC Insurance Group by 24.7% during the 2nd quarter. Alliancebernstein L.P. now owns 9,100 shares of the insurance provider’s stock valued at $253,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in EMC Insurance Group by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 90,355 shares of the insurance provider’s stock valued at $2,543,000 after acquiring an additional 2,063 shares in the last quarter. 28.13% of the stock is currently owned by institutional investors.

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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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