Donegal Group Inc. (NASDAQ:DGICA) Director Jack Lee Hess bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The shares were acquired at an average cost of $13.71 per share, for a total transaction of $41,130.00. Following the purchase, the director now directly owns 11,963 shares in the company, valued at approximately $164,012.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of DGICA stock traded down $0.04 on Thursday, reaching $13.69. 100 shares of the company’s stock were exchanged, compared to its average volume of 22,170. Donegal Group Inc. has a 52 week low of $13.02 and a 52 week high of $18.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $383.91 million, a P/E ratio of 46.00 and a beta of 0.39.
Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Tuesday, October 30th. The insurance provider reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.14). The business had revenue of $196.44 million for the quarter, compared to the consensus estimate of $195.80 million. Donegal Group had a negative return on equity of 4.16% and a negative net margin of 2.65%. As a group, sell-side analysts forecast that Donegal Group Inc. will post -0.4 EPS for the current year.
Several analysts recently issued reports on the company. BidaskClub downgraded Donegal Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 3rd. ValuEngine upgraded Donegal Group from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Boenning Scattergood reiterated a “hold” rating on shares of Donegal Group in a report on Wednesday, October 31st. Finally, Zacks Investment Research cut Donegal Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $18.00.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Deprince Race & Zollo Inc. raised its position in Donegal Group by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 290,172 shares of the insurance provider’s stock valued at $3,949,000 after purchasing an additional 4,112 shares in the last quarter. Ramsey Quantitative Systems raised its position in Donegal Group by 115.0% during the 3rd quarter. Ramsey Quantitative Systems now owns 7,720 shares of the insurance provider’s stock valued at $110,000 after purchasing an additional 4,129 shares in the last quarter. Citadel Advisors LLC bought a new stake in Donegal Group during the 2nd quarter valued at $213,000. TCW Group Inc. raised its position in Donegal Group by 9.6% during the 2nd quarter. TCW Group Inc. now owns 180,998 shares of the insurance provider’s stock valued at $2,463,000 after purchasing an additional 15,881 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Donegal Group by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 500,368 shares of the insurance provider’s stock worth $6,810,000 after acquiring an additional 25,868 shares in the last quarter. 31.25% of the stock is owned by institutional investors and hedge funds.
About Donegal Group
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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