Wells Fargo & Company MN Grows Holdings in Donegal Group Inc. (DGICA)

Wells Fargo & Company MN grew its position in Donegal Group Inc. (NASDAQ:DGICA) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 415,387 shares of the insurance provider’s stock after acquiring an additional 11,968 shares during the quarter. Wells Fargo & Company MN owned 1.52% of Donegal Group worth $6,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in DGICA. OLD Republic International Corp boosted its holdings in shares of Donegal Group by 103.9% in the 3rd quarter. OLD Republic International Corp now owns 477,100 shares of the insurance provider’s stock worth $7,696,000 after purchasing an additional 243,100 shares during the period. Northern Trust Corp boosted its holdings in shares of Donegal Group by 14.1% in the 2nd quarter. Northern Trust Corp now owns 135,447 shares of the insurance provider’s stock worth $2,154,000 after purchasing an additional 16,696 shares during the period. Kennedy Capital Management Inc. boosted its holdings in shares of Donegal Group by 31.6% in the 2nd quarter. Kennedy Capital Management Inc. now owns 579,157 shares of the insurance provider’s stock worth $9,209,000 after purchasing an additional 139,027 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Donegal Group by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,637,594 shares of the insurance provider’s stock worth $26,038,000 after purchasing an additional 33,628 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Donegal Group by 22.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 62,200 shares of the insurance provider’s stock worth $1,003,000 after purchasing an additional 11,497 shares during the period. 29.27% of the stock is currently owned by institutional investors and hedge funds.

Donegal Group Inc. (NASDAQ:DGICA) opened at $17.30 on Monday. Donegal Group Inc. has a 1-year low of $14.51 and a 1-year high of $18.25. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $474.54, a price-to-earnings ratio of 30.35 and a beta of 0.30.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, January 31st. Donegal Group’s payout ratio is currently 98.25%.

A number of equities analysts have recently commented on DGICA shares. TheStreet upgraded Donegal Group from a “c+” rating to a “b-” rating in a report on Friday, October 20th. Zacks Investment Research upgraded Donegal Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 19th. BidaskClub cut Donegal Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Keefe, Bruyette & Woods upgraded Donegal Group from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Wednesday, November 1st. Finally, Boenning Scattergood upgraded Donegal Group from a “neutral” rating to an “outperform” rating and set a $19.00 price objective for the company in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Donegal Group currently has an average rating of “Buy” and an average target price of $19.67.

In other Donegal Group news, Director Patricia A. Gilmartin sold 5,333 shares of Donegal Group stock in a transaction on Monday, November 6th. The stock was sold at an average price of $17.17, for a total transaction of $91,567.61. Following the completion of the sale, the director now directly owns 13,562 shares of the company’s stock, valued at approximately $232,859.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jack Lee Hess bought 2,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were purchased at an average cost of $16.78 per share, with a total value of $33,560.00. Following the completion of the transaction, the director now owns 4,489 shares in the company, valued at $75,325.42. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 4,000 shares of company stock valued at $68,040. 11.90% of the stock is owned by company insiders.

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Donegal Group Company Profile

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.

Institutional Ownership by Quarter for Donegal Group (NASDAQ:DGICA)

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