BidaskClub Lowers EMC Insurance Group (EMCI) to Sell

EMC Insurance Group (NASDAQ:EMCI) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Monday.

EMCI has been the subject of a number of other research reports. TheStreet upgraded shares of EMC Insurance Group from a “c+” rating to a “b” rating in a research note on Monday, July 2nd. Sandler O’Neill reiterated a “buy” rating and set a $33.00 target price on shares of EMC Insurance Group in a research note on Friday, July 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.50.

Shares of EMCI stock opened at $24.98 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market cap of $541.68 million, a P/E ratio of 20.48 and a beta of 0.76. EMC Insurance Group has a 12 month low of $24.51 and a 12 month high of $32.19.

EMC Insurance Group (NASDAQ:EMCI) last issued its earnings results on Tuesday, August 7th. The insurance provider reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $172.50 million during the quarter. EMC Insurance Group had a net margin of 3.23% and a return on equity of 3.30%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio lifted its position in EMC Insurance Group by 9.7% in the second quarter. Strs Ohio now owns 22,700 shares of the insurance provider’s stock valued at $630,000 after acquiring an additional 2,000 shares during the last quarter. ZPR Investment Management raised its holdings in shares of EMC Insurance Group by 29.2% in the first quarter. ZPR Investment Management now owns 9,192 shares of the insurance provider’s stock valued at $249,000 after buying an additional 2,079 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of EMC Insurance Group by 15.5% in the second quarter. California Public Employees Retirement System now owns 16,864 shares of the insurance provider’s stock valued at $468,000 after buying an additional 2,264 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of EMC Insurance Group by 9.4% in the first quarter. American Century Companies Inc. now owns 42,636 shares of the insurance provider’s stock valued at $1,155,000 after buying an additional 3,649 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of EMC Insurance Group by 13.5% in the first quarter. Russell Investments Group Ltd. now owns 49,122 shares of the insurance provider’s stock valued at $1,330,000 after buying an additional 5,849 shares during the last quarter. 28.24% of the stock is owned by hedge funds and other institutional investors.

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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