Kennedy Capital Management Inc. grew its stake in Donegal Group, Inc. (NASDAQ:DGICA) by 31.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 579,157 shares of the insurance provider’s stock after acquiring an additional 139,027 shares during the quarter. Kennedy Capital Management Inc. owned 2.12% of Donegal Group worth $9,209,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in DGICA. Geode Capital Management LLC boosted its holdings in Donegal Group by 164.0% in the first quarter. Geode Capital Management LLC now owns 162,857 shares of the insurance provider’s stock worth $2,869,000 after acquiring an additional 101,177 shares in the last quarter. OLD Republic International Corp boosted its holdings in Donegal Group by 37.6% in the second quarter. OLD Republic International Corp now owns 234,000 shares of the insurance provider’s stock worth $3,721,000 after acquiring an additional 64,000 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Donegal Group by 37.7% in the second quarter. Janney Montgomery Scott LLC now owns 99,092 shares of the insurance provider’s stock worth $1,576,000 after acquiring an additional 27,133 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Donegal Group by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,603,966 shares of the insurance provider’s stock worth $28,262,000 after acquiring an additional 23,054 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in Donegal Group by 13.6% in the first quarter. CWA Asset Management Group LLC now owns 162,919 shares of the insurance provider’s stock worth $2,871,000 after acquiring an additional 19,498 shares in the last quarter. 29.48% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on the company. Keefe, Bruyette & Woods set a $18.00 target price on Donegal Group and gave the stock a “hold” rating in a report on Thursday, August 17th. TheStreet downgraded Donegal Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. BidaskClub raised Donegal Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Boenning Scattergood reissued a “hold” rating on shares of Donegal Group in a report on Friday, July 14th. Finally, Zacks Investment Research downgraded Donegal Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.00.
Shares of Donegal Group, Inc. (NASDAQ:DGICA) opened at 15.52 on Friday. Donegal Group, Inc. has a 12-month low of $14.49 and a 12-month high of $18.55. The firm has a 50-day moving average price of $15.13 and a 200 day moving average price of $16.07. The company has a market capitalization of $424.04 million, a P/E ratio of 32.88 and a beta of 0.29.
Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Wednesday, July 19th. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.04. Donegal Group had a net margin of 1.84% and a return on equity of 2.24%. The company had revenue of $182.48 million during the quarter, compared to analysts’ expectations of $185.20 million. On average, equities research analysts predict that Donegal Group, Inc. will post $0.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a $0.14 dividend. The ex-dividend date was Friday, July 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.61%. Donegal Group’s dividend payout ratio is presently 114.29%.
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Donegal Group Company Profile
Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.
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