Donegal Group (DGICA) Rating Increased to Hold at BidaskClub

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

Several other brokerages have also issued reports on DGICA. Zacks Investment Research lowered shares of Donegal Group from a hold rating to a strong sell rating in a research report on Thursday, October 25th. Boenning Scattergood restated a hold rating on shares of Donegal Group in a research report on Wednesday, October 31st. Finally, ValuEngine upgraded shares of Donegal Group from a hold rating to a buy rating in a research report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $18.00.

Shares of NASDAQ DGICA opened at $13.98 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $392.84 million, a P/E ratio of 46.60 and a beta of 0.39. Donegal Group has a 12-month low of $12.74 and a 12-month high of $18.25.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Tuesday, October 30th. The insurance provider reported ($0.03) earnings per share (EPS) for the quarter, missing the 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 net margin of 2.65% and a negative return on equity of 4.19%. Equities research analysts anticipate that Donegal Group will post -0.4 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were given a $0.1425 dividend. The ex-dividend date was Wednesday, October 31st. This represents a $0.57 dividend on an annualized basis and a dividend yield of 4.08%. Donegal Group’s payout ratio is currently 190.00%.

In other Donegal Group news, Director Patricia A. Gilmartin sold 8,229 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $14.65, for a total value of $120,554.85. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at $7,325. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jack Lee Hess bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were bought at an average price of $13.71 per share, with a total value of $41,130.00. Following the transaction, the director now owns 11,963 shares of the company’s stock, valued at approximately $164,012.73. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 4,500 shares of company stock valued at $61,665. Company insiders own 13.13% of the company’s stock.

Large investors have recently modified their holdings of the stock. OLD Republic International Corp boosted its position in shares of Donegal Group by 29.1% during the second quarter. OLD Republic International Corp now owns 616,100 shares of the insurance provider’s stock worth $8,385,000 after acquiring an additional 139,000 shares during the last quarter. Philadelphia Trust Co. boosted its position in shares of Donegal Group by 6.0% during the second quarter. Philadelphia Trust Co. now owns 673,432 shares of the insurance provider’s stock worth $9,165,000 after acquiring an additional 38,064 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Donegal Group by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,794,145 shares of the insurance provider’s stock worth $24,418,000 after acquiring an additional 51,117 shares during the last quarter. Ramsey Quantitative Systems boosted its position in shares of Donegal Group by 115.0% during the third quarter. Ramsey Quantitative Systems now owns 7,720 shares of the insurance provider’s stock worth $110,000 after acquiring an additional 4,129 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Donegal Group during the second quarter worth $213,000. Hedge funds and other institutional investors own 31.09% of the company’s stock.

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.

Read More: Understanding each part of a balance sheet

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