Donegal Group (NASDAQ:DGICA) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Donegal Group (NASDAQ:DGICA) from a hold rating to a buy rating in a report issued on Friday morning, ValuEngine reports.

Several other brokerages have also recently commented on DGICA. TheStreet raised Donegal Group from a c+ rating to a b- rating in a report on Friday, May 24th. BidaskClub raised Donegal Group from a strong sell rating to a sell rating in a report on Thursday, August 1st. Boenning Scattergood reissued a hold rating on shares of Donegal Group in a report on Tuesday, July 30th. Finally, Zacks Investment Research raised Donegal Group from a strong sell rating to a hold rating and set a $16.00 target price on the stock in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Donegal Group currently has a consensus rating of Hold and an average target price of $16.00.

DGICA opened at $14.93 on Friday. The business’s 50 day moving average is $14.66 and its 200-day moving average is $14.00. The stock has a market cap of $426.29 million, a PE ratio of 248.67 and a beta of 0.29. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.09. Donegal Group has a twelve month low of $12.42 and a twelve month high of $15.43.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Monday, July 29th. The insurance provider reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.08. Donegal Group had a return on equity of 0.39% and a net margin of 1.75%. The firm had revenue of $197.22 million for the quarter, compared to analysts’ expectations of $196.30 million. As a group, analysts forecast that Donegal Group will post 0.8 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.145 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.58 annualized dividend and a dividend yield of 3.88%. Donegal Group’s dividend payout ratio is currently -58.00%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its position in Donegal Group by 434.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,987 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 1,615 shares in the last quarter. Legal & General Group Plc grew its position in Donegal Group by 110.1% during the 4th quarter. Legal & General Group Plc now owns 2,464 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 1,291 shares in the last quarter. Russell Investments Group Ltd. grew its position in Donegal Group by 36.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,812 shares of the insurance provider’s stock worth $58,000 after purchasing an additional 1,012 shares in the last quarter. Carroll Financial Associates Inc. grew its position in Donegal Group by 195.0% during the 2nd quarter. Carroll Financial Associates Inc. now owns 5,330 shares of the insurance provider’s stock worth $81,000 after purchasing an additional 3,523 shares in the last quarter. Finally, Strs Ohio grew its position in Donegal Group by 500.0% during the 2nd quarter. Strs Ohio now owns 5,400 shares of the insurance provider’s stock worth $82,000 after purchasing an additional 4,500 shares in the last quarter. 30.44% of the stock is currently owned by institutional investors.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, Commercial Lines of Insurance, and Investment in DFSC.

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