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 research report released on Tuesday.

A number of other brokerages have also commented on EMCI. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $30.00 price objective on shares of EMC Insurance Group in a report on Sunday, October 8th. ValuEngine lowered shares of EMC Insurance Group from a buy rating to a hold rating in a report on Wednesday, November 15th.

Shares of EMC Insurance Group (NASDAQ EMCI) traded down $0.02 during mid-day trading on Tuesday, reaching $28.12. 15,500 shares of the company’s stock were exchanged, compared to its average volume of 15,620. EMC Insurance Group has a 52-week low of $25.97 and a 52-week high of $32.19. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $602.18, a price-to-earnings ratio of 17.36 and a beta of 1.00.

EMC Insurance Group (NASDAQ:EMCI) last issued its quarterly earnings data on Wednesday, November 8th. The insurance provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $166.51 million during the quarter. research analysts predict that EMC Insurance Group will post 1.25 EPS for the current fiscal year.

In related news, CFO Mark E. Reese sold 2,341 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $30.10, for a total transaction of $70,464.10. Following the completion of the sale, the chief financial officer now owns 15,242 shares of the company’s stock, valued at approximately $458,784.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lisa Anne Simonetta sold 1,302 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $30.30, for a total transaction of $39,450.60. Following the sale, the insider now directly owns 11,386 shares of the company’s stock, valued at approximately $344,995.80. The disclosure for this sale can be found here. Insiders sold a total of 24,824 shares of company stock valued at $746,033 in the last three months. Insiders own 4.46% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in EMC Insurance Group in the 3rd quarter worth about $102,000. ZPR Investment Management grew its position in EMC Insurance Group by 2.8% in the 2nd quarter. ZPR Investment Management now owns 7,371 shares of the insurance provider’s stock worth $205,000 after purchasing an additional 202 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in EMC Insurance Group by 17.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,708 shares of the insurance provider’s stock worth $242,000 after purchasing an additional 1,280 shares during the last quarter. Alliancebernstein L.P. grew its position in EMC Insurance Group by 24.7% in the 2nd quarter. Alliancebernstein L.P. now owns 9,100 shares of the insurance provider’s stock worth $253,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in EMC Insurance Group by 4.2% in the 2nd quarter. Teachers Advisors LLC now owns 15,281 shares of the insurance provider’s stock worth $425,000 after purchasing an additional 614 shares during the last quarter. Hedge funds and other institutional investors own 27.99% of the company’s stock.

WARNING: “EMC Insurance Group (EMCI) Downgraded by BidaskClub to Strong Sell” was posted by Week Herald and is the property of of Week Herald. If you are reading this report on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://weekherald.com/2018/01/17/emc-insurance-group-emci-downgraded-by-bidaskclub-to-strong-sell.html.

EMC Insurance Group Company Profile

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.

Receive News & Ratings for EMC Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EMC Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply