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Last $34.74 USD
Change Today -0.15 / -0.43%
Volume 15.7K
EMCI On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

emc ins group inc (EMCI) Key Developments

EMC Insurance Group Inc. Declares Quarterly Cash Dividend, Payable June 2, 2015

EMC Insurance Group Inc. announced that its board of directors declared a quarterly cash dividend of $0.25 per share of common stock payable June 2, 2015 to stockholders of record as of May 26, 2015.

EMC Insurance Group Inc. Announces Unaudited Consolidated and Parent Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015

EMC Insurance Group Inc. announced unaudited consolidated and parent earnings results for the first quarter ended March 31, 2015. For the quarter, on consolidated basis, the company reported premiums earned of $138,731,000 against $133,080,000 a year ago. Investment income, net was $11,206,000 against $11,855,000 a year ago. Approximately $442,000 (3.7 percentage points) of the decline is attributed to the early payoff of a commercial mortgage-backed security during the first quarter of 2014 that was purchased at a significant discount to par value. Operating income before income taxes was $29,937,000 against $13,627,000 a year ago. Income before income taxes was $14,889,000 against $14,889,000 a year ago. Net income was $20,330,000 against $10,595,000 a year ago. Net income per basic and diluted share was $1.49 against $0.79 a year ago. Book value per share was $38.48. Operating income was $19.8 million or $1.45 per share compared to operating income of $9.8 million or $0.73 per share for the first quarter of 2014. For the quarter, on parent basis, the company reported net investment loss of $4,000 against $4,000 a year ago. Operating loss before income taxes was $465,000 against $358,000 a year ago. Loss before taxes was $465,000 against $358,000 a year ago. Net loss was $302,000 or $0.02 per basic and diluted share against $233,000 or $0.02 per basic and diluted share a year ago. The company announced that despite the record first quarter results, management is reaffirming its 2015 operating income guidance in the range of $2.75 to $3.00 per share on a pre-split basis. This is due to the fact that actual first quarter operating results were only slightly better than expectations. In addition, second and third quarter operating results can be volatile depending on the frequency and severity of Midwest storms, and the possibility of hurricane-related losses. This guidance is based on a projected GAAP combined ratio of 97.8% for the year and investment income consistent with the amount reported in 2014. The projected GAAP combined ratio has a load of 11.0 points for catastrophe and storm losses.

EMC Insurance Group Inc. to Report Q1, 2015 Results on May 07, 2015

EMC Insurance Group Inc. announced that they will report Q1, 2015 results at 9:00 AM, Eastern Standard Time on May 07, 2015

EMC Insurance Group Inc., Q1 2015 Earnings Call, May 07, 2015

EMC Insurance Group Inc., Q1 2015 Earnings Call, May 07, 2015

EMC Insurance Group Inc., Annual General Meeting, May 13, 2015

EMC Insurance Group Inc., Annual General Meeting, May 13, 2015., at 13:30 Central Standard Time. Location: At the offices of Employers Mutual Casualty Company. Agenda: To elect five persons to the board of directors; to approve, by a non-binding advisory vote, the compensation of the company's named executive officers as disclosed in the proxy statement; to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the current fiscal year; and to transact such other business as may properly come before the meeting or any adjournment thereof.

 

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Industry Analysis

EMCI

Industry Average

Valuation EMCI Industry Range
Price/Earnings 11.8x
Price/Sales 0.8x
Price/Book 0.9x
Price/Cash Flow 12.0x
TEV/Sales 0.7x
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