EMC Insurance Group (EMCI) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of EMC Insurance Group (NASDAQ:EMCI) from a buy rating to a hold rating in a research note released on Thursday morning.

Several other equities research analysts have also commented on the stock. ValuEngine lowered shares of EMC Insurance Group from a buy rating to a hold rating in a research report on Wednesday, November 15th. Keefe, Bruyette & Woods reissued a hold rating and issued a $32.00 target price on shares of EMC Insurance Group in a report on Friday, November 10th.

Shares of EMC Insurance Group (NASDAQ EMCI) opened at $29.00 on Thursday. EMC Insurance Group has a 52-week low of $25.97 and a 52-week high of $32.19. The company has a market cap of $620.60, a PE ratio of 20.57 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.08 and a current ratio of 0.08.

EMC Insurance Group (NASDAQ:EMCI) last released its quarterly earnings results on Wednesday, November 8th. The insurance provider reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.16). EMC Insurance Group had a net margin of 5.32% and a return on equity of 4.99%. The business had revenue of $166.51 million for the quarter. sell-side analysts expect that EMC Insurance Group will post 1.25 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Monday, November 20th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.03%. This is a positive change from EMC Insurance Group’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, November 17th. EMC Insurance Group’s dividend payout ratio is currently 54.32%.

In related news, insider Lisa Anne Simonetta sold 1,302 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $30.30, for a total value of $39,450.60. Following the completion of the sale, the insider now directly owns 11,386 shares of the company’s stock, valued at approximately $344,995.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $115,344.02. Following the completion of the sale, the vice president now directly owns 9,612 shares of the company’s stock, valued at $281,535.48. The disclosure for this sale can be found here. Insiders sold a total of 24,824 shares of company stock valued at $746,033 over the last three months. 4.46% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in EMC Insurance Group by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,785,827 shares of the insurance provider’s stock worth $49,610,000 after acquiring an additional 11,059 shares in the last quarter. Vanguard Group Inc. increased its holdings in EMC Insurance Group by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 420,044 shares of the insurance provider’s stock worth $11,668,000 after acquiring an additional 6,068 shares in the last quarter. Northern Trust Corp grew its holdings in EMC Insurance Group by 5.1% during the 2nd quarter. Northern Trust Corp now owns 408,082 shares of the insurance provider’s stock valued at $11,336,000 after buying an additional 19,830 shares in the last quarter. Wells Fargo & Company MN grew its holdings in EMC Insurance Group by 1.8% during the 3rd quarter. Wells Fargo & Company MN now owns 190,027 shares of the insurance provider’s stock valued at $5,348,000 after buying an additional 3,295 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in EMC Insurance Group by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 177,709 shares of the insurance provider’s stock valued at $4,937,000 after buying an additional 4,300 shares in the last quarter. 27.99% of the stock is 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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