EMC Insurance Group Inc. (NASDAQ:EMCI) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 90,000 shares, a growth of 22.6% from the May 30th total of 73,400 shares. Based on an average trading volume of 27,600 shares, the days-to-cover ratio is presently 3.3 days. Currently, 1.1% of the company’s stock are sold short.
EMC Insurance Group stock traded down $0.02 during mid-day trading on Friday, hitting $35.96. 9,747 shares of the company’s stock were exchanged, compared to its average volume of 21,270. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market capitalization of $779.63 million, a PE ratio of 32.99 and a beta of 0.33. EMC Insurance Group has a 1-year low of $22.98 and a 1-year high of $36.27. The business has a 50 day moving average price of $36.02.
EMC Insurance Group (NASDAQ:EMCI) last posted its earnings results on Thursday, May 9th. The insurance provider reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.41. The firm had revenue of $181.60 million for the quarter. EMC Insurance Group had a net margin of 3.66% and a return on equity of 6.00%. Analysts expect that EMC Insurance Group will post 1.45 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. increased its position in EMC Insurance Group by 1.4% during the fourth quarter. Prudential Financial Inc. now owns 52,158 shares of the insurance provider’s stock worth $1,661,000 after buying an additional 741 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in EMC Insurance Group by 8.0% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 217,054 shares of the insurance provider’s stock worth $6,920,000 after buying an additional 16,167 shares during the last quarter. Millennium Management LLC increased its position in EMC Insurance Group by 204.7% during the fourth quarter. Millennium Management LLC now owns 47,052 shares of the insurance provider’s stock worth $1,499,000 after buying an additional 31,608 shares during the last quarter. Geode Capital Management LLC increased its position in EMC Insurance Group by 41.7% during the fourth quarter. Geode Capital Management LLC now owns 120,228 shares of the insurance provider’s stock worth $3,829,000 after buying an additional 35,401 shares during the last quarter. Finally, Strs Ohio increased its position in EMC Insurance Group by 6.6% during the first quarter. Strs Ohio now owns 19,300 shares of the insurance provider’s stock worth $615,000 after buying an additional 1,200 shares during the last quarter. 27.50% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on EMCI. BidaskClub downgraded shares of Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th.
EMC Insurance Group Company Profile
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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