Keefe, Bruyette & Woods Reiterates “$28.00” Price Target for EMC Insurance Group (EMCI)

Keefe, Bruyette & Woods set a $28.00 price objective on EMC Insurance Group (NASDAQ:EMCI) in a research note released on Monday. The firm currently has a hold rating on the insurance provider’s stock.

Other analysts have also issued research reports about the stock. ValuEngine lowered shares of EMC Insurance Group from a buy rating to a hold rating in a research report on Monday, April 2nd. Sandler O’Neill reiterated a hold rating and set a $28.00 price target on shares of EMC Insurance Group in a research report on Friday, April 6th. Finally, BidaskClub lowered shares of EMC Insurance Group from a hold rating to a sell rating in a research report on Thursday, January 4th.

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NASDAQ EMCI opened at $26.30 on Monday. 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 company has a market cap of $575.89, a P/E ratio of 21.56 and a beta of 0.93. EMC Insurance Group has a 1 year low of $25.70 and a 1 year high of $32.19.

EMC Insurance Group (NASDAQ:EMCI) last posted its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.03). The firm had revenue of $169.93 million for the quarter. EMC Insurance Group had a return on equity of 4.48% and a net margin of 6.02%. equities analysts expect that EMC Insurance Group will post 1.5 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 14th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.35%. EMC Insurance Group’s dividend payout ratio is currently 72.13%.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position 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 buying an additional 4,504 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of EMC Insurance Group by 1.6% during the fourth quarter. Renaissance Technologies LLC now owns 266,915 shares of the insurance provider’s stock worth $7,658,000 after purchasing an additional 4,265 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of EMC Insurance Group by 14.9% during the fourth quarter. Wells Fargo & Company MN now owns 218,430 shares of the insurance provider’s stock worth $6,268,000 after purchasing an additional 28,403 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its holdings in shares of EMC Insurance Group by 65.8% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 141,550 shares of the insurance provider’s stock worth $4,061,000 after purchasing an additional 56,172 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of EMC Insurance Group by 2.3% during the third quarter. Bank of New York Mellon Corp now owns 90,355 shares of the insurance provider’s stock worth $2,543,000 after purchasing an additional 2,063 shares during the period. Hedge funds and other institutional investors own 28.27% of the company’s stock.

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About EMC Insurance Group

EMC Insurance Group, Inc is an insurance holding company, which engages in the operation and sale of commercial lines of property and casualty insurance to small and medium-sized businesses. It operates through Property and Casualty Insurance, and Reinsurance segments. The Property and Casualty Insurance segment includes both commercial and personal lines of insurance with a focus on medium-sized commercial accounts.

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