EMC Insurance Group (EMCI) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of EMC Insurance Group (NASDAQ:EMCI) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

EMCI has been the topic of a number of other research reports. TheStreet lowered shares of EMC Insurance Group from a b rating to a c rating in a report on Tuesday, May 29th. Keefe, Bruyette & Woods set a $28.00 target price on shares of EMC Insurance Group and gave the company a hold rating in a research note on Monday, April 16th. Sandler O’Neill raised shares of EMC Insurance Group from a hold rating to a buy rating in a research note on Wednesday, June 20th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of EMC Insurance Group from a buy rating to a hold rating in a research note on Monday, April 2nd. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $28.00.

Shares of EMC Insurance Group opened at $27.78 on Friday, MarketBeat.com reports. The firm has a market capitalization of $598.41 million, a price-to-earnings ratio of 22.77 and a beta of 0.92. EMC Insurance Group has a 12-month low of $24.51 and a 12-month high of $32.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.09 and a current ratio of 0.09.

EMC Insurance Group (NASDAQ:EMCI) last announced its quarterly earnings results on Friday, May 4th. The insurance provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $168.77 million during the quarter. EMC Insurance Group had a return on equity of 3.92% and a net margin of 4.86%. research analysts expect that EMC Insurance Group will post 1.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 5th. Stockholders of record on Tuesday, May 29th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, May 25th. EMC Insurance Group’s payout ratio is 72.13%.

In related news, insider Elizabeth A. Nigut sold 1,342 shares of the business’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $25.75, for a total transaction of $34,556.50. Following the sale, the insider now owns 4,446 shares of the company’s stock, valued at $114,484.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa Anne Simonetta sold 1,487 shares of the business’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $26.05, for a total transaction of $38,736.35. Following the sale, the insider now directly owns 7,604 shares in the company, valued at approximately $198,084.20. The disclosure for this sale can be found here. Insiders own 2.85% of the company’s stock.

Large investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC bought a new stake in EMC Insurance Group during the fourth quarter worth about $109,000. First Trust Advisors LP purchased a new position in EMC Insurance Group in the fourth quarter worth about $225,000. Keeley Teton Advisors LLC purchased a new position in EMC Insurance Group in the first quarter worth about $232,000. Goldman Sachs Group Inc. purchased a new position in EMC Insurance Group in the fourth quarter worth about $250,000. Finally, ZPR Investment Management raised its holdings in EMC Insurance Group by 29.2% in the first quarter. ZPR Investment Management now owns 9,192 shares of the insurance provider’s stock worth $249,000 after buying an additional 2,079 shares during the last quarter. 28.33% of the stock is currently owned by institutional investors and hedge funds.

About EMC Insurance Group

EMC Insurance Group Inc, an insurance holding company, provides property and casualty insurance, and reinsurance products in the United States. It operates through two segments, Property and Casualty Insurance, and Reinsurance. The Property and Casualty Insurance segment underwrites commercial and personal lines of insurance products.

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