EMC Insurance Group (NASDAQ:EMCI) Cut to Hold at ValuEngine

EMC Insurance Group (NASDAQ:EMCI) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

Separately, BidaskClub raised shares of EMC Insurance Group from a “sell” rating to a “hold” rating in a research note on Thursday.

Shares of EMC Insurance Group stock remained flat at $$35.94 during trading on Thursday. The company had a trading volume of 10,507 shares, compared to its average volume of 21,427. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.04. EMC Insurance Group has a 1 year low of $22.98 and a 1 year high of $36.31. The stock has a market cap of $778.97 million, a PE ratio of 32.97 and a beta of 0.33. The firm’s fifty day moving average is $35.99.

EMC Insurance Group (NASDAQ:EMCI) last released its earnings results on Thursday, May 9th. The insurance provider reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.41. The firm had revenue of $181.60 million during the quarter. EMC Insurance Group had a net margin of 3.66% and a return on equity of 6.00%. As a group, analysts anticipate that EMC Insurance Group will post 1.45 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Dalton Greiner Hartman Maher & Co. grew its stake in EMC Insurance Group by 8.0% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 217,054 shares of the insurance provider’s stock worth $6,920,000 after acquiring an additional 16,167 shares during the period. Millennium Management LLC grew its stake in EMC Insurance Group by 204.7% in the 4th quarter. Millennium Management LLC now owns 47,052 shares of the insurance provider’s stock worth $1,499,000 after acquiring an additional 31,608 shares during the period. Geode Capital Management LLC grew its stake in EMC Insurance Group by 41.7% in the 4th quarter. Geode Capital Management LLC now owns 120,228 shares of the insurance provider’s stock worth $3,829,000 after acquiring an additional 35,401 shares during the period. MetLife Investment Advisors LLC purchased a new stake in EMC Insurance Group in the 4th quarter worth approximately $142,000. Finally, Strs Ohio grew its stake in EMC Insurance Group by 6.6% in the 1st quarter. Strs Ohio now owns 19,300 shares of the insurance provider’s stock worth $615,000 after acquiring an additional 1,200 shares during the period. 27.07% 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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