Zacks Investment Research upgraded shares of Donegal Group, Inc. (NASDAQ:DGICA) from a sell rating to a hold rating in a research report report published on Wednesday. The firm currently has $20.00 price target on the insurance provider’s stock.
According to Zacks, “Donegal Group Inc. is a regional property-casualty insurance holding company doing business in Mid-Atlantic and Southern states through its insurance subsidiaries: Atlantic States Insurance Company, Southern Heritage Insurance Company, Southern Insurance Company of Virginia, Delaware Atlantic Insurance Company, Pioneer Insurance Company, Ohio and Pioneer Insurance Company, New York. “
A number of other brokerages also recently issued reports on DGICA. Boenning Scattergood reissued a hold rating on shares of Donegal Group in a report on Friday, July 14th. Keefe, Bruyette & Woods reissued a hold rating and issued a $19.00 price target on shares of Donegal Group in a report on Friday, July 14th. BidaskClub downgraded shares of Donegal Group from a sell rating to a strong sell rating in a research note on Wednesday, July 19th. Finally, TheStreet downgraded shares of Donegal Group from a b- rating to a c+ rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $19.67.
Donegal Group (DGICA) remained flat at $$17.29 on Wednesday. 108,226 shares of the stock were exchanged, compared to its average volume of 23,706. The company has a market cap of $472.38, a P/E ratio of 37.59 and a beta of 0.28. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.17. Donegal Group has a 52 week low of $14.49 and a 52 week high of $18.55.
Donegal Group (NASDAQ:DGICA) last issued its earnings results on Monday, October 30th. The insurance provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $185.72 million during the quarter, compared to analyst estimates of $187.60 million. Donegal Group had a net margin of 2.13% and a return on equity of 2.82%. analysts anticipate that Donegal Group will post 0.65 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Tuesday, October 31st. Donegal Group’s dividend payout ratio (DPR) is presently 98.25%.
In other news, Director Jack Lee Hess bought 2,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were purchased at an average price of $16.78 per share, for a total transaction of $33,560.00. Following the completion of the acquisition, the director now owns 4,489 shares of the company’s stock, valued at $75,325.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 11.90% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management Inc. boosted its holdings 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 buying an additional 139,027 shares in the last quarter. Wells Fargo & Company MN boosted its holdings 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 buying an additional 22,511 shares in the last quarter. OLD Republic International Corp boosted its holdings 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 buying an additional 64,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 buying an additional 16,736 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings 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 buying an additional 1,240 shares in the last quarter. Institutional investors and hedge funds 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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