BidaskClub Upgrades Donegal Group (DGICA) to “Sell”

BidaskClub upgraded shares of Donegal Group (NASDAQ:DGICA) from a strong sell rating to a sell rating in a research report released on Tuesday morning.

Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Donegal Group from a buy rating to a hold rating in a research report on Tuesday, February 20th. Keefe, Bruyette & Woods set a $19.00 target price on shares of Donegal Group and gave the stock a buy rating in a research note on Friday, February 23rd. TheStreet cut shares of Donegal Group from a b rating to a c+ rating in a research note on Friday, February 23rd. Finally, Boenning Scattergood reaffirmed a buy rating on shares of Donegal Group in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $19.33.

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Donegal Group (NASDAQ DGICA) opened at $15.35 on Tuesday. Donegal Group has a 1 year low of $14.51 and a 1 year high of $18.25. The company has a market cap of $413.92, a P/E ratio of 59.04 and a beta of 0.45. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.42 and a current ratio of 0.42.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Friday, February 23rd. The insurance provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.35). Donegal Group had a net margin of 0.96% and a return on equity of 1.83%. The firm had revenue of $188.55 million for the quarter, compared to analyst estimates of $190.40 million. equities research analysts anticipate that Donegal Group will post 1 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.65%. Donegal Group’s payout ratio is presently 215.39%.

Several hedge funds and other institutional investors have recently bought and sold shares of DGICA. Acadian Asset Management LLC bought a new stake in shares of Donegal Group in the fourth quarter worth $146,000. The Manufacturers Life Insurance Company grew its stake in shares of Donegal Group by 78.7% in the second quarter. The Manufacturers Life Insurance Company now owns 11,817 shares of the insurance provider’s stock worth $189,000 after purchasing an additional 5,203 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Donegal Group by 8.3% in the second quarter. Alliancebernstein L.P. now owns 19,654 shares of the insurance provider’s stock worth $312,000 after purchasing an additional 1,500 shares during the last quarter. Bailard Inc. bought a new stake in shares of Donegal Group in the fourth quarter worth $334,000. Finally, AXA bought a new stake in shares of Donegal Group in the fourth quarter worth $405,000. 31.92% 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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