EMC Insurance Group Inc. (EMCI) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS
EMC Insurance Group Inc. (NASDAQ:EMCI) posted its quarterly earnings data on Tuesday. The insurance provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.12, Bloomberg Earnings reports. EMC Insurance Group had a return on equity of 6.00% and a net margin of 5.98%.
EMC Insurance Group (EMCI) traded up 0.199% during trading on Tuesday, hitting $27.705. The company had a trading volume of 585 shares. EMC Insurance Group has a one year low of $23.45 and a one year high of $31.47. The stock has a 50-day moving average of $27.74 and a 200-day moving average of $27.88. The stock has a market capitalization of $588.98 million, a PE ratio of 15.248 and a beta of 0.93.
Separately, BidaskClub cut EMC Insurance Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th.
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In related news, insider Mark E. Reese sold 2,233 shares of EMC Insurance Group stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $28.66, for a total transaction of $63,997.78. Following the completion of the transaction, the insider now owns 13,983 shares in the company, valued at $400,752.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ronald Allan Paine sold 2,250 shares of EMC Insurance Group stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $28.60, for a total value of $64,350.00. Following the transaction, the insider now owns 24,823 shares of the company’s stock, valued at approximately $709,937.80. The disclosure for this sale can be found here. Company insiders own 4.46% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. American International Group Inc. boosted its position in EMC Insurance Group by 7.3% in the first quarter. American International Group Inc. now owns 5,150 shares of the insurance provider’s stock worth $145,000 after buying an additional 351 shares during the last quarter. Alliancebernstein L.P. boosted its position in EMC Insurance Group by 5.8% in the first quarter. Alliancebernstein L.P. now owns 7,300 shares of the insurance provider’s stock worth $205,000 after buying an additional 400 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in EMC Insurance Group by 10.7% in the first quarter. PNC Financial Services Group Inc. now owns 8,605 shares of the insurance provider’s stock worth $241,000 after buying an additional 830 shares during the last quarter. Clear Harbor Asset Management LLC boosted its position in EMC Insurance Group by 22.2% in the first quarter. Clear Harbor Asset Management LLC now owns 11,000 shares of the insurance provider’s stock worth $309,000 after buying an additional 2,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in EMC Insurance Group during the first quarter worth approximately $323,000. Institutional investors and hedge funds own 28.30% of the company’s stock.
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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