EMC Insurance Group Inc. (EMCI) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of EMC Insurance Group Inc. (NASDAQ:EMCI) in a report issued on Sunday. The firm currently has a $30.00 price objective on the insurance provider’s stock.

Separately, BidaskClub upgraded shares of EMC Insurance Group from a strong sell rating to a sell rating in a report on Saturday, August 26th.

Shares of EMC Insurance Group (NASDAQ EMCI) opened at 28.35 on Friday. EMC Insurance Group has a 12 month low of $23.44 and a 12 month high of $31.47. The stock has a market cap of $605.27 million, a P/E ratio of 15.92 and a beta of 0.92. The company has a 50 day moving average of $27.86 and a 200 day moving average of $27.67.

EMC Insurance Group (NASDAQ:EMCI) last issued its quarterly earnings data on Tuesday, August 8th. The insurance provider reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.12). The firm had revenue of $160.76 million for the quarter. EMC Insurance Group had a net margin of 5.87% and a return on equity of 5.66%. 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 institutional investors have recently added to or reduced their stakes in EMCI. Northern Trust Corp boosted its holdings in shares of EMC Insurance Group by 5.1% in the second quarter. Northern Trust Corp now owns 408,082 shares of the insurance provider’s stock valued at $11,336,000 after buying an additional 19,830 shares during the period. Kennedy Capital Management Inc. boosted its holdings in shares of EMC Insurance Group by 14.1% in the second quarter. Kennedy Capital Management Inc. now owns 154,592 shares of the insurance provider’s stock valued at $4,295,000 after buying an additional 19,110 shares during the period. State Street Corp boosted its holdings in shares of EMC Insurance Group by 11.3% in the second quarter. State Street Corp now owns 150,958 shares of the insurance provider’s stock valued at $4,193,000 after buying an additional 15,367 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of EMC Insurance Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 227,372 shares of the insurance provider’s stock valued at $6,380,000 after buying an additional 12,422 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of EMC Insurance Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 413,976 shares of the insurance provider’s stock valued at $11,616,000 after buying an additional 12,084 shares during the period. Institutional investors own 28.17% 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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