EMC Insurance Group Inc. (NASDAQ:EMCI) declared a quarterly dividend on Tuesday, November 6th, Wall Street Journal reports. Shareholders of record on Thursday, November 15th will be given a dividend of 0.23 per share by the insurance provider on Thursday, November 22nd. This represents a $0.92 annualized dividend and a yield of 3.79%. The ex-dividend date is Wednesday, November 14th. This is an increase from EMC Insurance Group’s previous quarterly dividend of $0.22.
EMC Insurance Group has raised its dividend by an average of 10.7% per year over the last three years and has increased its dividend every year for the last 8 years. EMC Insurance Group has a payout ratio of 73.3% meaning its dividend is sufficiently covered by earnings.
NASDAQ:EMCI traded up $0.21 during mid-day trading on Tuesday, hitting $24.29. The company had a trading volume of 14,994 shares, compared to its average volume of 15,642. EMC Insurance Group has a fifty-two week low of $22.98 and a fifty-two week high of $32.19. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $519.27 million, a price-to-earnings ratio of 19.91 and a beta of 0.64.
EMC Insurance Group (NASDAQ:EMCI) last released its earnings results on Tuesday, August 7th. The insurance provider reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). EMC Insurance Group had a return on equity of 3.30% and a net margin of 3.23%. The firm had revenue of $172.50 million for the quarter.
Several brokerages have issued reports on EMCI. BidaskClub downgraded EMC Insurance Group from a “hold” rating to a “sell” rating in a report on Friday, August 31st. TheStreet downgraded EMC Insurance Group from a “b-” rating to a “c+” rating in a report on Monday, August 13th. Finally, Sandler O’Neill restated a “buy” rating and issued a $33.00 price target on shares of EMC Insurance Group in a report on Friday, July 13th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $30.50.
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EMC Insurance Group Company Profile
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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