Donegal Group (NASDAQ:DGICA) Downgraded by BidaskClub to “Sell”

BidaskClub downgraded shares of Donegal Group (NASDAQ:DGICA) from a hold rating to a sell rating in a report released on Saturday morning, BidAskClub reports.

DGICA has been the subject of a number of other reports. Zacks Investment Research cut shares of Donegal Group from a buy rating to a hold rating in a research note on Wednesday. Boenning Scattergood reaffirmed a hold rating on shares of Donegal Group in a research note on Tuesday, July 30th. TheStreet cut shares of Donegal Group from a b- rating to a c rating in a research note on Tuesday, August 27th. Finally, ValuEngine cut shares of Donegal Group from a buy rating to a hold rating in a research note on Saturday, August 31st. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock has a consensus rating of Hold and an average target price of $16.00.

Shares of DGICA stock traded up $0.04 on Friday, hitting $14.19. 5,800 shares of the stock traded hands, compared to its average volume of 13,257. Donegal Group has a 52 week low of $12.42 and a 52 week high of $15.43. The firm has a market cap of $404.29 million, a price-to-earnings ratio of -14.19 and a beta of 0.28. The firm has a 50 day simple moving average of $14.42 and a two-hundred day simple moving average of $14.34. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.44 and a quick ratio of 0.44.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Monday, July 29th. The insurance provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. Donegal Group had a net margin of 1.75% and a return on equity of 0.39%. The business had revenue of $197.22 million during the quarter, compared to analysts’ expectations of $196.30 million. Sell-side analysts forecast that Donegal Group will post 0.8 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $0.145 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.09%. Donegal Group’s dividend payout ratio is presently -58.00%.

Several hedge funds have recently added to or reduced their stakes in DGICA. Russell Investments Group Ltd. lifted its holdings in Donegal Group by 36.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,812 shares of the insurance provider’s stock valued at $58,000 after buying an additional 1,012 shares in the last quarter. Atwater Malick LLC lifted its holdings in Donegal Group by 7.1% during the 2nd quarter. Atwater Malick LLC now owns 16,064 shares of the insurance provider’s stock valued at $245,000 after buying an additional 1,064 shares in the last quarter. Rhumbline Advisers lifted its holdings in Donegal Group by 10.4% during the 3rd quarter. Rhumbline Advisers now owns 15,028 shares of the insurance provider’s stock valued at $220,000 after buying an additional 1,410 shares in the last quarter. Carroll Financial Associates Inc. lifted its holdings in Donegal Group by 195.0% during the 2nd quarter. Carroll Financial Associates Inc. now owns 5,330 shares of the insurance provider’s stock valued at $81,000 after buying an additional 3,523 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Donegal Group by 5.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 68,669 shares of the insurance provider’s stock valued at $1,049,000 after buying an additional 3,736 shares in the last quarter. 30.63% of the stock is owned by hedge funds and other institutional investors.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of 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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