EMC Insurance Group’s (EMCI) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of EMC Insurance Group Inc. (NASDAQ:EMCI) in a research report sent to investors on Sunday. The firm currently has a $30.00 price objective on the insurance provider’s stock.

Separately, BidaskClub cut shares of EMC Insurance Group from a sell rating to a strong sell rating in a research report on Tuesday, July 25th.

Shares of EMC Insurance Group (EMCI) opened at 28.44 on Friday. The company’s 50-day moving average price is $27.84 and its 200 day moving average price is $27.66. EMC Insurance Group has a 12-month low of $23.45 and a 12-month high of $31.47. The company has a market cap of $607.19 million, a price-to-earnings ratio of 15.97 and a beta of 0.92.

EMC Insurance Group (NASDAQ:EMCI) last announced its quarterly earnings results on Tuesday, August 8th. The insurance provider reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.12). EMC Insurance Group had a net margin of 5.87% and a return on equity of 5.66%. The business had revenue of $160.76 million during the quarter. Equities analysts predict that EMC Insurance Group will post $1.02 earnings per share for the current year.

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Institutional investors have recently bought and sold shares of the business. American International Group Inc. lifted its position in shares of EMC Insurance Group by 7.3% during the 1st quarter. American International Group Inc. now owns 5,150 shares of the insurance provider’s stock worth $145,000 after buying an additional 351 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of EMC Insurance Group by 5.8% during the 1st quarter. Alliancebernstein L.P. now owns 7,300 shares of the insurance provider’s stock worth $205,000 after buying an additional 400 shares in the last quarter. ZPR Investment Management lifted its position in shares of EMC Insurance Group by 2.8% during the 2nd quarter. ZPR Investment Management now owns 7,371 shares of the insurance provider’s stock worth $205,000 after buying an additional 202 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of EMC Insurance Group by 10.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,605 shares of the insurance provider’s stock worth $241,000 after buying an additional 830 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of 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 worth $242,000 after buying an additional 1,280 shares in the last quarter. 28.17% of the stock is currently owned by hedge funds and other institutional investors.

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.

Separately, BidaskClub cut shares of EMC Insurance Group from a sell rating to a strong sell rating in a research report on Tuesday, July 25th.

Shares of EMC Insurance Group (EMCI) opened at 28.44 on Friday. The company’s 50-day moving average price is $27.84 and its 200 day moving average price is $27.66. EMC Insurance Group has a 12-month low of $23.45 and a 12-month high of $31.47. The company has a market cap of $607.19 million, a price-to-earnings ratio of 15.97 and a beta of 0.92.

EMC Insurance Group (NASDAQ:EMCI) last announced its quarterly earnings results on Tuesday, August 8th. The insurance provider reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.12). EMC Insurance Group had a net margin of 5.87% and a return on equity of 5.66%. The business had revenue of $160.76 million during the quarter. Equities analysts predict that EMC Insurance Group will post $1.02 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This article was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright law. The original version of this article can be viewed at https://ledgergazette.com/2017/10/11/emc-insurance-groups-emci-market-perform-rating-reiterated-at-keefe-bruyette-woods.html.

Institutional investors have recently bought and sold shares of the business. American International Group Inc. lifted its position in shares of EMC Insurance Group by 7.3% during the 1st quarter. American International Group Inc. now owns 5,150 shares of the insurance provider’s stock worth $145,000 after buying an additional 351 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of EMC Insurance Group by 5.8% during the 1st quarter. Alliancebernstein L.P. now owns 7,300 shares of the insurance provider’s stock worth $205,000 after buying an additional 400 shares in the last quarter. ZPR Investment Management lifted its position in shares of EMC Insurance Group by 2.8% during the 2nd quarter. ZPR Investment Management now owns 7,371 shares of the insurance provider’s stock worth $205,000 after buying an additional 202 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of EMC Insurance Group by 10.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,605 shares of the insurance provider’s stock worth $241,000 after buying an additional 830 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of 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 worth $242,000 after buying an additional 1,280 shares in the last quarter. 28.17% of the stock is currently owned by hedge funds and other institutional investors.

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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