EMC Insurance Group (EMCI) Cut to “Strong Sell” at BidaskClub

BidaskClub cut shares of EMC Insurance Group (NASDAQ:EMCI) from a sell rating to a strong sell rating in a research report released on Thursday, BidAskClub reports.

EMCI stock opened at $31.58 on Thursday. EMC Insurance Group has a 52 week low of $22.98 and a 52 week high of $33.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $683.42 million, a price-to-earnings ratio of 28.97 and a beta of 0.51.

EMC Insurance Group (NASDAQ:EMCI) last released its quarterly earnings data on Thursday, February 7th. The insurance provider reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.78. EMC Insurance Group had a negative net margin of 1.06% and a positive return on equity of 4.09%. The business had revenue of $182.72 million during the quarter. Research analysts anticipate that EMC Insurance Group will post 1.45 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Doyle Wealth Management bought a new stake in shares of EMC Insurance Group in the 4th quarter worth about $43,000. JNBA Financial Advisors bought a new stake in shares of EMC Insurance Group in the 4th quarter worth about $48,000. Acadian Asset Management LLC bought a new stake in shares of EMC Insurance Group in the 4th quarter worth about $50,000. BNP Paribas Arbitrage SA lifted its holdings in shares of EMC Insurance Group by 444.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,934 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 1,579 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of EMC Insurance Group by 39.4% in the 4th quarter. Legal & General Group Plc now owns 2,058 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 582 shares during the last quarter. Institutional investors and hedge funds own 27.39% of the company’s stock.

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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