Donegal Group (DGICA) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Donegal Group (NASDAQ:DGICA) from a sell rating to a hold rating in a research report sent to investors on Friday.

Several other equities research analysts also recently weighed in on DGICA. Zacks Investment Research downgraded 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 price target on Donegal Group and gave the stock a buy rating in a research report on Friday, February 23rd. Boenning Scattergood reaffirmed a buy rating on shares of Donegal Group in a research report on Monday, February 26th. Finally, TheStreet downgraded Donegal Group from a b rating to a c+ rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Donegal Group currently has an average rating of Hold and a consensus target price of $19.33.

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Shares of DGICA opened at $15.80 on Friday. The stock has a market cap of $445.54, a price-to-earnings ratio of 52.67 and a beta of 0.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.43 and a current ratio of 0.43. Donegal Group has a fifty-two week low of $14.51 and a fifty-two week high of $18.25.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Friday, February 23rd. The insurance provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.35). The company had revenue of $188.55 million for the quarter, compared to analyst estimates of $190.40 million. Donegal Group had a return on equity of 1.82% and a net margin of 0.96%. analysts expect that Donegal Group will post 1 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Donegal Group by 0.7% during the 2nd quarter. State Street Corp now owns 203,048 shares of the insurance provider’s stock worth $3,230,000 after acquiring an additional 1,473 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Donegal Group by 78.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,817 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 5,203 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Donegal Group by 23.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 31,446 shares of the insurance provider’s stock worth $545,000 after acquiring an additional 6,048 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Donegal Group by 7.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 105,992 shares of the insurance provider’s stock worth $1,710,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Donegal Group by 24.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 40,787 shares of the insurance provider’s stock worth $706,000 after acquiring an additional 7,889 shares in the last quarter. 31.06% of the stock is currently owned by institutional investors.

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Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides 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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