Donegal Group, Inc. (NASDAQ:DGICA) – Equities research analysts at Boenning Scattergood lifted their Q4 2017 earnings estimates for shares of Donegal Group in a research report issued to clients and investors on Tuesday. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will post earnings per share of $0.39 for the quarter, up from their prior forecast of $0.34. Boenning Scattergood has a “Outperform” rating and a $19.00 price objective on the stock. Boenning Scattergood also issued estimates for Donegal Group’s Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.25 EPS, Q1 2019 earnings at $0.38 EPS, Q2 2019 earnings at $0.30 EPS, Q3 2019 earnings at $0.30 EPS and FY2019 earnings at $1.45 EPS.
A number of other equities analysts also recently weighed in on the stock. BidaskClub downgraded shares of Donegal Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research downgraded shares of Donegal Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.00 target price on shares of Donegal Group in a research note on Friday, July 14th. Finally, TheStreet downgraded shares of Donegal Group from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.50.
COPYRIGHT VIOLATION WARNING: “Analysts Set Expectations for Donegal Group, Inc.’s Q4 2017 Earnings (DGICA)” was published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://sportsperspectives.com/2017/11/02/analysts-set-expectations-for-donegal-group-inc-s-q4-2017-earnings-dgica.html. Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. Donegal Group had a net margin of 2.13% and a return on equity of 2.82%. The company had revenue of $185.72 million during the quarter, compared to analyst estimates of $187.60 million.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Tuesday, October 31st. Donegal Group’s dividend payout ratio is presently 98.25%.
A number of large investors have recently bought and sold shares of DGICA. OLD Republic International Corp grew its holdings in Donegal Group by 103.9% in the third quarter. OLD Republic International Corp now owns 477,100 shares of the insurance provider’s stock worth $7,696,000 after purchasing an additional 243,100 shares during the period. Kennedy Capital Management Inc. grew its holdings in Donegal Group by 31.6% in the second quarter. Kennedy Capital Management Inc. now owns 579,157 shares of the insurance provider’s stock worth $9,209,000 after purchasing an additional 139,027 shares during the period. Geode Capital Management LLC grew 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 purchasing an additional 101,177 shares during the period. Dimensional Fund Advisors LP grew its holdings in Donegal Group by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,637,594 shares of the insurance provider’s stock worth $26,038,000 after purchasing an additional 33,628 shares during the period. Finally, Janney Montgomery Scott LLC grew 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 purchasing an additional 27,133 shares during the period. Institutional investors and hedge funds own 29.48% of the company’s stock.
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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