EMC Insurance Group (EMCI) Posts Quarterly 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 (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03), Bloomberg Earnings reports. EMC Insurance Group had a return on equity of 4.54% and a net margin of 6.02%. The business had revenue of $169.93 million for the quarter.

Shares of EMC Insurance Group (NASDAQ EMCI) opened at $27.09 on Friday. EMC Insurance Group has a fifty-two week low of $25.97 and a fifty-two week high of $32.19. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $566.74, a price-to-earnings ratio of 14.72 and a beta of 0.93.

Several research firms have recently issued reports on EMCI. BidaskClub cut EMC Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Keefe, Bruyette & Woods restated a “hold” rating and set a $32.00 price objective on shares of EMC Insurance Group in a report on Friday, November 10th. Finally, ValuEngine cut EMC Insurance Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th.

In related news, insider Lisa Anne Simonetta sold 1,302 shares of EMC Insurance Group stock in a transaction on Friday, December 1st. The stock was sold at an average price of $30.30, for a total value of $39,450.60. Following the transaction, the insider now owns 11,386 shares in the company, valued at $344,995.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bruce G. Kelley sold 13,503 shares of EMC Insurance Group stock in a transaction 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 completion of the transaction, the chief executive officer now owns 264,003 shares in the company, valued at approximately $8,001,930.93. The disclosure for this sale can be found here. Insiders have sold 24,824 shares of company stock worth $746,033 in the last 90 days. Insiders own 4.46% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in EMC Insurance Group by 0.7% in the fourth quarter. BlackRock Inc. now owns 654,685 shares of the insurance provider’s stock valued at $18,783,000 after acquiring an additional 4,504 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in EMC Insurance Group by 14.9% in the fourth quarter. Wells Fargo & Company MN now owns 218,430 shares of the insurance provider’s stock valued at $6,268,000 after acquiring an additional 28,403 shares during the last quarter. First Trust Advisors LP acquired a new position in EMC Insurance Group in the fourth quarter valued at $225,000. Unison Advisors LLC acquired a new position in EMC Insurance Group in the fourth quarter valued at $275,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in EMC Insurance Group by 31.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 39,330 shares of the insurance provider’s stock valued at $1,129,000 after acquiring an additional 9,509 shares during the last quarter. Hedge funds and other institutional investors own 28.13% of the company’s stock.

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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.

Earnings History for EMC Insurance Group (NASDAQ:EMCI)

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