EMC Insurance Group (NASDAQ:EMCI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $32.00 target price on shares of EMC Insurance Group in a report on Friday, November 10th. ValuEngine cut EMC Insurance Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th.

Shares of EMC Insurance Group (NASDAQ EMCI) traded down $0.86 during midday trading on Thursday, reaching $29.00. 16,808 shares of the company’s stock were exchanged, compared to its average volume of 18,661. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.04. EMC Insurance Group has a 1 year low of $25.97 and a 1 year high of $32.19. The company has a market capitalization of $620.59, a PE ratio of 21.18 and a beta of 0.99.

EMC Insurance Group (NASDAQ:EMCI) last issued its earnings results on Wednesday, November 8th. The insurance provider reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.16). EMC Insurance Group had a return on equity of 4.99% and a net margin of 5.32%. The business had revenue of $166.51 million during the quarter. research analysts anticipate that EMC Insurance Group will post 1.25 earnings per share for the current year.

In other news, insider Ronald Allan Paine sold 3,000 shares of EMC Insurance Group stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $29.47, for a total transaction of $88,410.00. Following the sale, the insider now owns 22,476 shares of the company’s stock, valued at $662,367.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Bruce G. Kelley sold 13,503 shares of EMC Insurance Group stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $30.31, for a total value of $409,275.93. Following the sale, the chief executive officer now directly owns 264,003 shares in the company, valued at approximately $8,001,930.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,824 shares of company stock worth $746,033. Corporate insiders own 4.46% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of EMC Insurance Group during the third quarter valued at approximately $102,000. Alliancebernstein L.P. increased its stake in shares of EMC Insurance Group by 5.8% during the first quarter. Alliancebernstein L.P. now owns 7,300 shares of the insurance provider’s stock valued at $205,000 after acquiring an additional 400 shares during the period. ZPR Investment Management increased its stake in shares of EMC Insurance Group by 2.8% during the second quarter. ZPR Investment Management now owns 7,371 shares of the insurance provider’s stock valued at $205,000 after acquiring an additional 202 shares during the period. The Manufacturers Life Insurance Company increased its stake 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 valued at $242,000 after acquiring an additional 1,280 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in shares of EMC Insurance Group during the first quarter valued at approximately $323,000. 27.99% of the stock is currently owned by institutional investors.

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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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