Keefe, Bruyette & Woods upgraded shares of Donegal Group, Inc. (NASDAQ:DGICA) from a market perform rating to an outperform rating in a report issued on Wednesday morning, MarketBeat.com reports. The firm currently has $20.00 price objective on the insurance provider’s stock.
Other analysts have also recently issued reports about the company. BidaskClub upgraded Donegal Group from a strong sell rating to a sell rating in a research report on Monday, July 31st. Zacks Investment Research cut Donegal Group from a hold rating to a strong sell rating in a research report on Tuesday, July 25th. TheStreet cut Donegal Group from a b- rating to a c+ rating in a research report on Wednesday, August 9th. Finally, Boenning Scattergood restated a hold rating on shares of Donegal Group in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Donegal Group presently has an average rating of Hold and an average price target of $19.67.
Shares of Donegal Group (NASDAQ:DGICA) remained flat at $$17.29 during trading on Wednesday. The company had a trading volume of 113,766 shares, compared to its average volume of 23,319. Donegal Group has a 12 month low of $14.49 and a 12 month high of $18.55. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $463.87, a price-to-earnings ratio of 37.59 and a beta of 0.28.
Donegal Group (NASDAQ:DGICA) last posted its earnings results on Monday, October 30th. The insurance provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. Donegal Group had a return on equity of 2.82% and a net margin of 2.13%. The firm had revenue of $185.72 million for the quarter, compared to analysts’ expectations of $187.60 million. equities research analysts predict that Donegal Group will post 0.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Tuesday, October 31st. Donegal Group’s dividend payout ratio is currently 101.82%.
In other news, Director Jack Lee Hess purchased 2,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were bought at an average cost of $16.78 per share, for a total transaction of $33,560.00. Following the transaction, the director now owns 4,489 shares in the company, valued at $75,325.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.90% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Kennedy Capital Management Inc. increased its position in shares of Donegal Group by 31.6% during the 2nd quarter. Kennedy Capital Management Inc. now owns 579,157 shares of the insurance provider’s stock valued at $9,209,000 after purchasing an additional 139,027 shares during the period. Wells Fargo & Company MN increased its position in shares of Donegal Group by 5.9% during the 2nd quarter. Wells Fargo & Company MN now owns 403,419 shares of the insurance provider’s stock valued at $6,414,000 after purchasing an additional 22,511 shares during the period. OLD Republic International Corp increased its position in shares of Donegal Group by 37.6% during the 2nd quarter. OLD Republic International Corp now owns 234,000 shares of the insurance provider’s stock valued at $3,721,000 after purchasing an additional 64,000 shares during the period. Vanguard Group Inc. increased its position in shares of Donegal Group by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 412,320 shares of the insurance provider’s stock valued at $7,265,000 after purchasing an additional 16,736 shares during the period. Finally, First Eagle Investment Management LLC increased its position in shares of Donegal Group by 2.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 50,703 shares of the insurance provider’s stock valued at $806,000 after purchasing an additional 1,240 shares during the period. Institutional investors own 29.48% of the company’s stock.
About Donegal Group
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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