Donegal Group (DGICA) Cut to Hold at BidaskClub

BidaskClub cut shares of Donegal Group (NASDAQ:DGICA) from a buy rating to a hold rating in a report issued on Tuesday.

Several other brokerages have also issued reports on DGICA. Zacks Investment Research raised Donegal Group from a sell rating to a hold rating and set a $20.00 price objective on the stock in a report on Wednesday, November 1st. Keefe, Bruyette & Woods raised Donegal Group from a market perform rating to an outperform rating and set a $20.00 price objective on the stock in a report on Wednesday, November 1st. Boenning Scattergood raised Donegal Group from a neutral rating to an outperform rating and set a $19.00 price objective on the stock in a report on Tuesday, October 31st. Finally, TheStreet raised Donegal Group from a c+ rating to a b- rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $19.67.

Donegal Group (DGICA) traded up $0.10 during trading on Tuesday, reaching $17.54. The company’s stock had a trading volume of 40,100 shares, compared to its average volume of 31,413. Donegal Group has a one year low of $14.51 and a one year high of $18.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $478.38, a PE ratio of 37.91 and a beta of 0.30.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $185.72 million for the quarter, compared to analyst estimates of $187.60 million. Donegal Group had a return on equity of 2.81% and a net margin of 2.13%. analysts anticipate that Donegal Group will post 0.65 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Tuesday, October 31st. Donegal Group’s payout ratio is 98.25%.

In related news, Director Patricia A. Gilmartin sold 5,333 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $17.17, for a total transaction of $91,567.61. Following the transaction, the director now owns 13,562 shares of the company’s stock, valued at $232,859.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jack Lee Hess purchased 2,000 shares of the stock in a transaction that occurred on 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 acquisition, the director now owns 4,489 shares of the company’s stock, valued at $75,325.42. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 4,000 shares of company stock worth $68,040. Corporate insiders own 11.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DGICA. Dimensional Fund Advisors LP boosted its holdings in Donegal Group by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,659,577 shares of the insurance provider’s stock valued at $26,769,000 after purchasing an additional 21,983 shares in the last quarter. Kennedy Capital Management Inc. boosted its holdings in Donegal Group by 31.6% in 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 in the last quarter. OLD Republic International Corp boosted its holdings in Donegal Group by 103.9% in the 3rd quarter. OLD Republic International Corp now owns 477,100 shares of the insurance provider’s stock valued at $7,696,000 after purchasing an additional 243,100 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Donegal Group by 3.0% in the 3rd quarter. Wells Fargo & Company MN now owns 415,387 shares of the insurance provider’s stock valued at $6,699,000 after purchasing an additional 11,968 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Donegal Group by 4.2% in 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 in the last quarter. 29.27% of the stock is currently owned by hedge funds and other institutional investors.

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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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