EMC Insurance Group (EMCI) Rating Lowered to Sell at BidaskClub
EMC Insurance Group (NASDAQ:EMCI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
EMCI has been the subject of several other reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $32.00 price objective on shares of EMC Insurance Group in a research note on Friday, November 10th. ValuEngine cut shares of EMC Insurance Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th.
Shares of EMC Insurance Group (NASDAQ EMCI) opened at $28.22 on Thursday. The firm has a market cap of $609.46, a P/E ratio of 20.20 and a beta of 1.00. EMC Insurance Group has a 12-month low of $25.97 and a 12-month high of $32.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.08 and a current ratio of 0.08.
In other EMC Insurance Group news, insider Lisa Anne Simonetta sold 1,302 shares of EMC Insurance Group stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $30.30, for a total transaction of $39,450.60. Following the completion of the sale, the insider now directly owns 11,386 shares in the company, valued at approximately $344,995.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert Lynn Link sold 3,938 shares of EMC Insurance Group stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $29.29, for a total transaction of $115,344.02. Following the sale, the vice president now owns 9,612 shares of the company’s stock, valued at $281,535.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,824 shares of company stock valued at $746,033. Company insiders own 4.46% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in EMC Insurance Group during the 3rd quarter valued at approximately $102,000. ZPR Investment Management lifted its stake in shares of EMC Insurance Group by 2.8% in the 2nd quarter. ZPR Investment Management now owns 7,371 shares of the insurance provider’s stock valued at $205,000 after purchasing an additional 202 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of EMC Insurance Group by 17.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,708 shares of the insurance provider’s stock valued at $242,000 after purchasing an additional 1,280 shares during the period. Alliancebernstein L.P. lifted its stake in shares of EMC Insurance Group by 24.7% in the 2nd quarter. Alliancebernstein L.P. now owns 9,100 shares of the insurance provider’s stock valued at $253,000 after purchasing an additional 1,800 shares during the period. Finally, Teachers Advisors LLC lifted its stake in shares of EMC Insurance Group by 4.2% in the 2nd quarter. Teachers Advisors LLC now owns 15,281 shares of the insurance provider’s stock valued at $425,000 after purchasing an additional 614 shares during the period. Institutional investors and hedge funds own 27.99% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.thecerbatgem.com/2018/01/06/emc-insurance-group-emci-rating-lowered-to-sell-at-bidaskclub.html.
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.
Receive News & Ratings for EMC Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EMC Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.