Donegal Group, Inc. (NASDAQ:DGICA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Donegal Group Inc. is a regional property-casualty insurance holding company doing business in Mid-Atlantic and Southern states through its insurance subsidiaries: Atlantic States Insurance Company, Southern Heritage Insurance Company, Southern Insurance Company of Virginia, Delaware Atlantic Insurance Company, Pioneer Insurance Company, Ohio and Pioneer Insurance Company, New York. “

Several other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods set a $18.00 target price on shares of Donegal Group and gave the stock a “hold” rating in a research report on Thursday, August 17th. TheStreet lowered shares of Donegal Group from a “b-” rating to a “c+” rating in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Donegal Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Boenning Scattergood restated a “hold” rating on shares of Donegal Group in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Shares of Donegal Group (NASDAQ DGICA) traded up 0.72% during mid-day trading on Tuesday, reaching $15.44. 14,065 shares of the company were exchanged. The stock has a 50 day moving average price of $15.26 and a 200-day moving average price of $16.01. The stock has a market capitalization of $421.85 million, a P/E ratio of 32.71 and a beta of 0.29. Donegal Group has a 12 month low of $14.49 and a 12 month high of $18.55.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Wednesday, July 19th. The insurance provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The company had revenue of $182.48 million for the quarter, compared to analysts’ expectations of $185.20 million. Donegal Group had a return on equity of 2.24% and a net margin of 1.84%. Analysts predict that Donegal Group will post $0.63 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of DGICA. Kennedy Capital Management Inc. boosted its position in shares of Donegal Group by 31.6% during 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Donegal Group by 164.0% during the 1st quarter. Geode Capital Management LLC now owns 162,857 shares of the insurance provider’s stock worth $2,869,000 after purchasing an additional 101,177 shares in the last quarter. OLD Republic International Corp boosted its position in shares of Donegal Group by 37.6% during the 2nd quarter. OLD Republic International Corp now owns 234,000 shares of the insurance provider’s stock worth $3,721,000 after purchasing an additional 64,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Donegal Group by 2.1% during 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 in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Donegal Group by 37.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 99,092 shares of the insurance provider’s stock worth $1,576,000 after purchasing an additional 27,133 shares in the last quarter. Institutional investors own 29.48% of the company’s stock.

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.

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