BidaskClub Lowers EMC Insurance Group Inc. (NASDAQ:EMCI) to Strong Sell

BidaskClub lowered shares of EMC Insurance Group Inc. (NASDAQ:EMCI) from a sell rating to a strong sell rating in a report published on Tuesday, July 25th.

Shares of EMC Insurance Group (EMCI) traded down 0.69% on Tuesday, reaching $27.38. 14,059 shares of the company’s stock traded hands. EMC Insurance Group has a 52 week low of $23.44 and a 52 week high of $31.47. The firm has a market capitalization of $584.56 million, a P/E ratio of 15.37 and a beta of 0.93. The firm’s 50 day moving average is $27.73 and its 200 day moving average is $27.81.

EMC Insurance Group (NASDAQ:EMCI) last issued its quarterly earnings data on Tuesday, August 8th. The insurance provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.12. The business had revenue of $160.76 million for the quarter. EMC Insurance Group had a net margin of 5.87% and a return on equity of 5.66%. Analysts expect that EMC Insurance Group will post $1.40 earnings per share for the current fiscal year.

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In related news, insider Mark E. Reese sold 2,233 shares of EMC Insurance Group stock in a transaction on Monday, June 12th. The stock was sold at an average price of $28.66, for a total transaction of $63,997.78. Following the completion of the sale, the insider now owns 13,983 shares of the company’s stock, valued at $400,752.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ronald Allan Paine sold 2,250 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $28.60, for a total value of $64,350.00. Following the completion of the sale, the insider now directly owns 24,823 shares of the company’s stock, valued at approximately $709,937.80. The disclosure for this sale can be found here. 4.46% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in EMC Insurance Group by 0.7% in the second quarter. Bessemer Group Inc. now owns 14,400 shares of the insurance provider’s stock valued at $400,000 after buying an additional 100 shares in the last quarter. American Century Companies Inc. boosted its position in EMC Insurance Group by 0.3% in the second quarter. American Century Companies Inc. now owns 39,927 shares of the insurance provider’s stock valued at $1,109,000 after buying an additional 100 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position 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 valued at $795,000 after buying an additional 133 shares in the last quarter. American International Group Inc. boosted its position in EMC Insurance Group by 7.3% in the first quarter. American International Group Inc. now owns 5,150 shares of the insurance provider’s stock valued at $145,000 after buying an additional 351 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of EMC Insurance Group by 5.8% in the first quarter. Alliancebernstein L.P. now owns 7,300 shares of the insurance provider’s stock valued at $205,000 after buying an additional 400 shares in the last quarter. 28.30% of the stock is owned by 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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