EMC Insurance Group (NASDAQ:EMCI) Sets New 1-Year High at $36.31

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EMC Insurance Group Inc. (NASDAQ:EMCI) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.31 and last traded at $36.25, with a volume of 515 shares. The stock had previously closed at $36.12.

EMCI has been the topic of several recent research reports. ValuEngine cut EMC Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub raised EMC Insurance Group from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

The firm has a market capitalization of $782.87 million, a PE ratio of 33.17 and a beta of 0.32. The company has a fifty day moving average price of $36.02 and a 200-day moving average price of $34.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.09 and a current ratio of 0.09.

EMC Insurance Group (NASDAQ:EMCI) last issued its quarterly earnings data on Thursday, August 8th. The insurance provider reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.19. The business had revenue of $182.64 million for the quarter. EMC Insurance Group had a return on equity of 5.56% and a net margin of 4.47%. On average, equities analysts predict that EMC Insurance Group Inc. will post 1.45 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Monday, August 26th. EMC Insurance Group’s dividend payout ratio is currently 84.40%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC bought a new position in shares of EMC Insurance Group during the 2nd quarter valued at approximately $37,000. Bank of Montreal Can grew its position in EMC Insurance Group by 734.1% in the 2nd quarter. Bank of Montreal Can now owns 1,151 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 1,013 shares during the last quarter. Doyle Wealth Management bought a new position in EMC Insurance Group in the 2nd quarter valued at $49,000. BNP Paribas Arbitrage SA grew its position in 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 valued at $62,000 after acquiring an additional 1,579 shares during the last quarter. Finally, Legal & General Group Plc grew its position in 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 valued at $66,000 after acquiring an additional 582 shares during the last quarter. 27.56% of the stock is currently owned by hedge funds and other institutional investors.

About EMC Insurance Group (NASDAQ:EMCI)

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.

See Also: Real Estate Investment Trust (REIT) ETF

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