Keefe, Bruyette & Woods Reaffirms Hold Rating for EMC Insurance Group (EMCI)

EMC Insurance Group (NASDAQ:EMCI)‘s stock had its “hold” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Friday, November 10th. They presently have a $32.00 target price on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 3.03% from the company’s current price.

Separately, BidaskClub cut shares of EMC Insurance Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th.

Shares of EMC Insurance Group (NASDAQ EMCI) traded up $0.29 during trading on Friday, hitting $31.06. The company had a trading volume of 24,300 shares, compared to its average volume of 23,290. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.08 and a quick ratio of 0.08. EMC Insurance Group has a 1 year low of $25.97 and a 1 year high of $31.84. The firm has a market cap of $658.46, a P/E ratio of 21.81 and a beta of 0.98.

EMC Insurance Group (NASDAQ:EMCI) last released its 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). The firm had revenue of $166.51 million during the quarter. EMC Insurance Group had a return on equity of 4.99% and a net margin of 5.32%. equities research analysts expect that EMC Insurance Group will post 1.25 earnings per share for the current fiscal year.

In other EMC Insurance Group news, VP Robert Lynn Link sold 3,938 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $29.29, for a total value of $115,344.02. Following the transaction, the vice president now owns 9,612 shares in the company, valued at approximately $281,535.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bruce G. Kelley sold 13,503 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $30.31, for a total transaction of $409,275.93. Following the completion of the sale, the chief executive officer now owns 264,003 shares in the company, valued at approximately $8,001,930.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,802 shares of company stock valued at $711,408. 4.46% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in EMC Insurance Group by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 83,988 shares of the insurance provider’s stock worth $2,356,000 after acquiring an additional 2,714 shares during the period. Swiss National Bank raised its stake in EMC Insurance Group by 19.9% during the first quarter. Swiss National Bank now owns 13,850 shares of the insurance provider’s stock worth $389,000 after acquiring an additional 2,300 shares during the period. American International Group Inc. raised its stake in EMC Insurance Group by 7.3% during the first quarter. American International Group Inc. now owns 5,150 shares of the insurance provider’s stock worth $145,000 after acquiring an additional 351 shares during the period. Alliancebernstein L.P. raised its stake in EMC Insurance Group by 5.8% during the first quarter. Alliancebernstein L.P. now owns 7,300 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 400 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in EMC Insurance Group by 10.7% during the first quarter. PNC Financial Services Group Inc. now owns 8,605 shares of the insurance provider’s stock worth $241,000 after acquiring an additional 830 shares during the period. Institutional investors and hedge funds own 27.99% of the company’s stock.

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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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