EMC Insurance Group’s (EMCI) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

EMC Insurance Group Inc. (NASDAQ:EMCI)‘s stock had its “market perform” rating restated by research analysts at Keefe, Bruyette & Woods in a research note issued on Sunday, October 8th. They currently have a $30.00 target price on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 3.34% from the company’s previous close.

Separately, BidaskClub raised EMC Insurance Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th.

Shares of EMC Insurance Group (NASDAQ EMCI) traded up 0.24% during midday trading on Friday, hitting $29.09. 21,848 shares of the stock were exchanged. The firm’s 50 day moving average price is $27.91 and its 200-day moving average price is $27.68. The stock has a market cap of $621.07 million, a P/E ratio of 16.33 and a beta of 0.92. EMC Insurance Group has a 52-week low of $23.45 and a 52-week high of $31.47.

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 the Zacks’ consensus estimate of $0.28 by ($0.12). EMC Insurance Group had a net margin of 5.87% and a return on equity of 5.66%. The firm had revenue of $160.76 million during the quarter. On average, equities research analysts expect that EMC Insurance Group will post $1.02 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the company. ZPR Investment Management boosted its position in shares of EMC Insurance Group by 2.8% during the 2nd quarter. ZPR Investment Management now owns 7,371 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 202 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of EMC Insurance Group by 17.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,708 shares of the insurance provider’s stock worth $242,000 after acquiring an additional 1,280 shares in the last quarter. State Street Corp boosted its position in shares of EMC Insurance Group by 11.3% during the 2nd quarter. State Street Corp now owns 150,958 shares of the insurance provider’s stock worth $4,193,000 after acquiring an additional 15,367 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of EMC Insurance Group by 0.6% during 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. Finally, Vanguard Group Inc. boosted its position in shares of EMC Insurance Group by 1.5% during 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. 28.17% of the stock is owned by institutional investors and hedge funds.

EMC Insurance Group Company Profile

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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