EMC Insurance Group (EMCI) Issues Earnings Results, Misses Expectations By $0.03 EPS
EMC Insurance Group (NASDAQ:EMCI) posted its quarterly earnings data on Thursday. The insurance provider reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.03), Bloomberg Earnings reports. EMC Insurance Group had a return on equity of 4.99% and a net margin of 5.32%.
EMC Insurance Group (NASDAQ:EMCI) traded up $0.65 during trading on Thursday, reaching $27.71. 12,638 shares of the company were exchanged, compared to its average volume of 13,883. 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 12 month low of $25.97 and a 12 month high of $32.19. The stock has a market cap of $577.79, a price-to-earnings ratio of 17.10 and a beta of 0.93.
A number of analysts recently weighed in on EMCI shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $32.00 price objective on shares of EMC Insurance Group in a research report on Friday, November 10th. ValuEngine lowered shares of EMC Insurance Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, BidaskClub lowered shares of EMC Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th.
Large investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of EMC Insurance Group during the third quarter worth approximately $102,000. First Trust Advisors LP purchased a new position in shares of EMC Insurance Group during the fourth quarter worth approximately $225,000. The Manufacturers Life Insurance Company increased its position in shares of EMC Insurance Group by 17.2% during the second 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 during the period. Alliancebernstein L.P. increased its position in shares of EMC Insurance Group by 24.7% during the second quarter. Alliancebernstein L.P. now owns 9,100 shares of the insurance provider’s stock worth $253,000 after acquiring an additional 1,800 shares during the period. Finally, Unison Advisors LLC purchased a new position in shares of EMC Insurance Group during the fourth quarter worth approximately $275,000. 28.13% of the stock is currently owned by institutional investors and hedge funds.
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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